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
http://www.engineeringnews.co.za/article/sephaku-to-post-h1-earnings-loss-2014-10-30/rep_id:3182
