Alexander Forbes expects HEPS to rise by 244%

by Trust Matsilele 0

The company also said it was expecting a significant rise in its headline earnings per share that will see the company turning from a season of losses.

“The significant increase in the earnings per share measurement is largely due to the changes in capital structure and the related effect on the finance costs in the income statement,” said the company.

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[DATA AFH:Alexander Forbes Group Holdings Limited] also said it anticipated headline earnings per share to be between 222 per cent and 244 per cent higher compared to the previous corresponding reporting period’s loss of nine cents per share.

This will result in the group’s headline earnings per share being between 11 cents and 13 cents.

The group said if these estimates are realised the company’s earnings per share of between 9 and 11 cents will be expected.

“The profit from operations before non-trading and capital items more appropriately reflects the growth in the core trading results of the operating divisions of the group,” the company.

The increase in this trading result is expected to be between 14 per cent and 17 per cent compared to the previous corresponding reporting period’s profit.

The six months’ unaudited interim results for Alexander Forbes will be released on the Stock Exchange News Service on 2 December 2014.

On 31 March 2014, Alexander Forbes completed a comprehensive capital restructure aimed at redeeming substantially all of the remaining debt instruments and preference share instruments in the Private Equity funding structure and replacing such outstanding amounts with ordinary equity.

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“A single, unsecured term loan was introduced. The capital restructure was in part to facilitate the realisation of the Private Equity shareholding, as well as the group’s listing on the exchange operated by the JSE Limited (JSE) on 24 of July 2014.”