Industrial, chemicals and logistics group KAP Industrial has advised shareholders it anticipates an even bigger slump in earnings than it had previously forecast for the year to end-June, hit by a higher effective tax rate and rising interest rates.

Headline earnings per share (HEPS) are expected to fall by 37%-47%, the diversified industrials group said on Tuesday, with headline earnings of 39.2c-46.6c per share expected for the year to end-June, lower than the 49.2c-52.1c reported in May...

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