PSG jumps after saying it expects 40% rise in HEPS
The investment company expects interim HEPS to leap due to a fair-value adjustment of its holding in agribusiness investor Zeder
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, ...
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.