Stellenbosch-based Investment company PSG Group said on Friday it expected headline earnings per share to rise as much as 40.5% in the six months to end-August, bolstered by a fair-value gain in its Zeder holding. Attributable headline earnings per share are expected to be between 32.6% and 34.7% higher than the prior period, with PSG's share price rising as much as 4.8% on Friday afternoon before gains were pared. Agribusiness investor Zeder announced in September it was disposing of of its shareholding in China-based Golden Wing Mau Agriculture and Xinguajiayuan Modern Agricultural company for a total consideration of about R1.17bn. At the time Zeder said the fair value of its investment in Golden Wing Mau was R699m. PSG said on Friday as a result sum-of-its-parts (SOTP) value per share as at August 31 2018 was R272.94, being 7.0% higher than the R255.17 reported as at February 28 2018. The group holds major stakes in other JSE-listed counters such as private schools owner Curro, ...

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