Imperial falls 3% despite expecting better operating profit
Logistics and transport group Imperial said on Friday that it expected headline earnings per share (HEPS) for the year to end-June to rise at least 23%, when excluding businesses held for sale. Vehicle division Motus, which will shortly be unbundled, increased revenue in line with its first half growth, as did Imperial Logistics, the group said in a statement. HEPS were expected to fall by between 23% and 30% when excluding Regent, and 9% and 16% when that business was included. Imperial expects to receive about R1.8bn from its sale of insurance business Regent to Hollard, but the transaction has faced challenges from competition authorities. Operating profits for the year were expected to be higher than in the first half at both Motus and Imperial Logistics, the group said. Overall net financing costs, and foreign exchange losses, had been pared. Imperial plans to separately list Motus as it splits into two independent, self-sufficient businesses. The two already have separate boar...
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