Sinking shipping volumes pull down Santova’s earnings
The logistics group has warned that interim HEPS to end-August could fall as much as 17% due to SA’s weak economy
15 October 2019 - 11:30
Small-cap logistics company Santova, whose share price has almost halved so far in 2019, warned on Tuesday that falling shipping volumes as a result of SA’s subdued consumer environment had hit its earnings in the six months to end-August.
Headline earnings per share (HEPS) were expected to fall between 12% and 17% to a range of 17.54c to 18.59c per share, the company said, with SA logistics revenue falling by a similar amount...
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