EFG expects EPS to be between 33% and 60% higher

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EFG expects EPS to be between 33% and 60% higher Sanlam is a financial services group. PHOTO: NFS Financial

“Shareholders are advised that Efficient Group’s (EFG’s) earnings per share (EPS) for the year ended 31 August 2014 are expected to be between 8.19 and 9.86 cents per share compared to the earnings per share of 6.18 cents per share for the year ended 31 August 2013,” it said.

“Headline earnings for the current financial year is expected to be between 5.9 million rand and 7.1 million rand compared to headline earnings of 5.3 million rand for the comparative period.”

However, EFG stated that headline earnings per share (HEPS) for the current financial year are expected to be between 8.99 and 10.69 cents per share compared to headline earnings of 13.04 cents per share for the comparative period.

(WATCH VIDEO: Efficient Group FY revenue up 43%)

The South African financial services company added that this is between 31 and 18 per cent lower than the HEPS for the comparative period.

“The lower headline earnings per share can be attributed to the larger number of shares in issue during the year ended 31 August 2014,” EFG said.

“During the current financial year the weighted average number of shares in issue was 66 062 364 shares compared to 40 759 533 shares for the comparative period.”

EFG’s results for the current financial year are expected to be announced on SENS on or around 12 November 2014.