Group Five expecting increased interim HEPS

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The South African diversified construction, infrastructure concessions and related services group is expecting headline earnings per share (HEPS) of 198 cents to 213 cents, up from 152 cents per share for the previous corresponding period.

Fully diluted headline earnings per share are expected to increase from 151 cents to between 196 cents and 211 cents per share and earnings per share are expected to be between 40 to 50 per cent higher or 196 cents per share to 210 cents per share.

“The group’s businesses performed in line with management expectations and largely in accordance with the guidance provided at the group’s management day with stakeholders,” it said.

“The improved results are delivered following the corrective action taken in the prior year, specifically with regards to construction materials segment and Middle East business.”

For the year ended June 2013, [DATA GRF:Group Five] had reported Middle East remnant close-out costs of 51 million rand and 48 million rand for construction materials.

The group’s results will be released on the Johannesburg Stock Exchange’s news service on 17 February 2014.