Capitec ahead of rivals in growing earnings
Issuing results less than a month after the financial year ended makes Capitec among the JSE’s quickest firms to get its financial statements done
Capitec’s share price gained 3.3% to R867.90 on Monday morning after issuing a trading statement indicating that it was growing earnings faster than competing banks.Capitec said it expected headline earnings per share (HEPS) for the year to end-February to grow between 16% and 19%.On March 1, Barclays Africa reported its HEPS for the year to end-December declined 4% to R17.17. On March 2, Nedbank reported its HEPS grew 2.2% to R24.52.FirstRand is scheduled to release its interim results on Tuesday and Standard Bank its final results for the year to end-December on Thursday.Even though Capitec’s upper growth limit for HEPS is under the 20% limit triggering the JSE’s rule requiring companies to issue trading statements, Capitec voluntarily kept its shareholders informed.The trading statement comes less than week since the end of Capitec’s financial year, and the bank said its results would be published on March 27.Issuing its results less than a month after the end of its financial ye...
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