YORK Timber on Wednesday warned of a drop in interim headline earnings per share (HEPS) of between 45% and 50% for the period to December 31 2015.Headline earnings are expected to decrease from 21c to 10.5c-11.6c.The decrease was attributed to "a lower fair value adjustment largely due to an increase in the discount rate as a result of the increase in the R186 bond rate".Operating profit, however, was expected to increase by 10%-15%, while net cash flow from operations was likely to increase by between R95m and R100m.
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