Peregrine warns of big drop in earnings
The group, which includes wealth manager Citadel, and asset managers Peregrine Capital and Stenham, expects HEPS and EPS to fall
Wealth and asset manager Peregrine Holdings said on Friday that its headline earnings per share (HEPS) are likely to have dropped by as much as 45% in the six months to end-September.
The group, which includes wealth manager Citadel, and asset managers Peregrine Capital and Stenham, said it expects its HEPS and earnings per share (EPS) to fall by between 35% and 45% to between 45.1c and 57.9c.
The company said in June that it grappled with deal-flow, citing difficult financial market conditions after its performance fee related income fell 65% to R95m in the year to end-March.
Peregrine said ongoing HEPS for the period are expected to increase by between 10% and 15%.
The group’s financial results for the six months to end-September 2019 are scheduled to be released on November 13.