Capitec expects earnings to plummet for first half of financial year
The group says headline earnings per share to end-August could fall by as much as 70%
Capitec has said earnings per share for the first half of its financial year to end-August could drop by as much as 70% due to higher bad-debt expenses and lower transaction volumes as a result of the coronavirus lockdown.
“We do, however, believe that the results for the second half of the 2021 financial year could return to normal levels. We will provide a more specific guidance range when there is reasonable certainty of the range of headline earnings and earnings,” it said in a statement.