Verimark expects headline earnings per share to catapult to new heights
Retailer Verimark says headline earnings per share (HEPS) for the year ended February 28 are expected to be between 176% and 238% higher than the previous year, which it attributes to a combination of sales price increases and the strengthening of the rand. HEPS are expected to be in the range of 22.1c and 27c, compared with 8c for the comparable 12 months a year earlier. "The company will record a profit before taxation of between R33.7m and R41.2m, an increase of between 157% and 214% on the R13.1m for the comparative period." The retailer said a major focus on reduction and containment of costs had helped produce favourable results. It said this was achieved through a renewed cost-benefit analysis and elimination of wasteful expenditure. The continuing improvement had resulted in cost increases being contained to below-inflation levels, said Verimark.
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