Conduit Capital’s share price unchanged despite anticipated HEPS surge
Investment holding company Conduit Capital’s (CND) share price was unmoved on Tuesday morning, despite the financial services counter saying it expected headline earnings per share (HEPS) for the half-year to end-December to rise by as much as 215%.The group‚ which invests primarily in the insurance industry‚ said in a statement that earnings per share for the period was expected to be between 9c and 10.8c, compared to a loss per share of 10.4c in the prior period.Net asset value per share was expected to be between 186.1c and 190.9c, or between 17% and 19% higher than the prior period’s 159.2c. HEPS was expected to rise to between 8.6c and 10.8c, compared to a loss of 8.9c previously.Conduit was one of the JSE’s best performing shares in 2015 when it surged 83.87%, but has since struggled, having lost 23% since the end of that year.Some market watches have attributed Conduit’s shift in fortunes to a series of unfavourable acquisitions, including the purchase of investment companies...
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.