Tough first half for Avior Capital Markets
The trading and research firm warns its first-half earnings for 2019 could drop by 100%
Trading and research firm Avior Capital Markets has warned its shareholders that its earnings for the first half of 2019 could plummet by more than 100%.
The company, which provides research on equities and other capital instruments, said there was “a reasonable degree of certainty that both Avior Holdings’ headline earnings per share (HEPS) and earnings per share for the six months ended October 2018 will reflect a decrease of between 86% and 106% compared to the first half of 2018.
In the six months to October 2017, the company’s HEPS stood at R7.91 while earnings per share were R7.80.
Return on Avior’s stock, including re-invested income is down 62.5% since its listing 18 months ago. Its share price is also down 62.5% over the same period. The company said it expects to publish its interim results on or before January 31.