Raubex to report nearly 336% increase in earnings
The infrastructure development group says the increase is due to a revision of the financial effects of the disposal of its property investments unit
Infrastructure development group Raubex said on Tuesday that it expects its earnings for the year ended February 29 to be higher than the earnings from the previous corresponding period.
Earnings per share are expected to be about 335.7% higher, which translates to earnings per share of 139c higher than the 31.9c in the previous comparative period.
Headline earnings per share (HEPS) are expected to increase by at least 161.7c from 57.0c in the previous comparative period, a rise of about 183.7%.
At 2.46pm, the company share price was up 0.32% to R15.90.
“The increase in HEPS compared to the previous guidance range is due to a revision of the financial effects of the disposal of Raubex Property Investments to Acorn Black Investments, and the treatment of these financial effects with regards to the calculation of HEPS”, the company said.
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