Picture: 123RF/ALEXLMX
Picture: 123RF/ALEXLMX

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.

mjoo@businesslive.co.za