Net1 UEPS Technologies’ share price was unchanged on Friday morning, despite the embattled provider saying basic earnings per share was expected to decline 16% in rand terms in its first quarter, from the year-earlier period. Revenue in rand terms had declined 8% over the same period to $153m, with basic earnings per share of 43 US cents reflecting the adverse effect of a higher share count, taxes and interest expenses, the company said in a statement. Higher interest expenses resulted from its South African lending facility, obtained in August 2017, to partially fund a 15% investment in Cell C. The company expected basic earning per share to remain at least $1.61, despite the dilutive effects of the funding of Cell C and DNI investments. This would be offset by DNI’s earnings, Net1 said. "Our guidance assumes no significant disruption in any of our key business units, a constant currency base of R13.62/$, a share count of 56.6-million shares and a tax rate of between 34% and 36%," ...
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