Sephaku to post H1 earnings loss

31 October 2014

Sephaku Holdings, which is in the process of finalising its interim results for the six months ended September 30, expects to swing to a basic loss a share of between 1.9c and 2c for the half-year, from basic earnings a share of 3.32c in the first half of the prior year.

The headline loss a share was expected to be between 1.95c and 2.05c for the period, dropping from headline earnings a share of 2.78c reported for the first half of the 2013 financial year.

“The loss is mainly owing to a one-off noncash item that is included as provision for the final share allocation to the previous owners of Métier Mixed Concrete calculated for the outstanding R100-million share acquisition payment, based on the 60-day volume weighted average price on December 1,” it said in a trading statement.

Excluding the one-off items, the basic normalised headline earnings a share for the six months was expected to be between 9.3c and 9.75c.

By: Natalie Greve

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