Energy and oil and gas company Consolidated Infrastructure expects headline earnings per share (HEPS) for the year to end-August to come in between 25% and 35% lower the a year ago, the group said on Thursday.
The group said subdued economic growth had a negative effect on its Consolidated Power Projects division, while the slowdown in the Angolan oil sector had taken its toll on the performance of Angola Environmental Services.
The company’s latest acquisition, Conlog Proprietary, and other group businesses have performed in line with expectations,
The reviewed results for the year are expected to be released on November 8.
At 10.58am Consolidated Infrastructure shares were down 2.58% to R13.60.