Comair, which operates low-cost carrier Kulula, said on Friday it expected to report better than anticipated results in February, due to the unexpected strength of the rand in 2016. Earnings per share (EPS) should be between 125% and 145% higher year on year for the six months ended December at between 40c and 44c a share, the company said in a trading statement on Friday. Comair's share price rose 2.13% to R4,80 following the announcement. Headline earnings per share (HEPS) were expected to be between 218% and 233% higher, Comair said. "As previously disclosed ... the expected increase is primarily due to the strengthening of the rand against the US dollar, resulting in the reversal of unrealised translation losses on the dollar-denominated aircraft loan amounting to R98m. "Furthermore, all loss-making open oil hedges had matured by 31 December 2015 and no further hedges were entered into." The group, which operates the British Airways brand in southern Africa, had said earlier in ...
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