cOMPANY COMMENT
Finally, some good news for Novus
The Novus board says it is now targeting headline earnings per share for the 12 months to end-March of between 60c and 65c
Novus shareholders received some much-needed good news in early January. In an updated trading forecast, the board said it was now targeting headline earnings per share (HEPS) for the 12 months to end-March of between 60c and 65c. In September, the board’s forecast range was between 50c and 60c. It wasn’t anything dramatic but, for shareholders in the print production company, who have been faced with almost unrelenting bad news — the loss of much of the Media24 printing contract, executive changes, poorly performing acquisitions — for much of the past few years, it was welcome. Remarkably, it didn’t have much of a sustained upward effect on the share price. After reaching a peak of 435c a few days after the announcement, the share price then began to ease back. On Tuesday, it was back at 405c, which is about one quarter the level at which the share was trading shortly after its listing in 2015. The updated forecast means the board is expecting HEPS in the six months to end-March 2...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.