Flood of results due from JSE companies
Thursday is a busy day for JSE watchers, with Standard Bank, Exxaro, Harmony Gold and Gold Fields all scheduled to release results.
Standard Bank is scheduled to release interim results for the six months to end-June at 8am.
Standard has not issued a trading statement, as would be required if its earnings differed by more than 20% from its previous results.
The group’s life insurance subsidiary, Liberty, reported on August 4 that its interim headline earnings declined by 15%. Standard’s results for the year to end-December showed all its units performing well — with the exception of Liberty, whose headline earnings contribution declined 61% in the 2016 financial year.
Coal miner Exxaro said on August 11 it expected to report on Thursday that headline earnings per share (HEPS) for the six months to end-June had as much as tripled to R9.25 from the matching period’s R3.09.
Attributable earnings are expected to be between R2.45bn and R2.88bn, mainly due to higher net operating profit contribution from the coal business as well as higher equity-accounted income from investments, Exxaro said.
Harmony Gold said on Monday it expected to report on Thursday its HEPS for the year to end-June improved by up to 45% from the prior year’s R2.21.
Basic earnings, however, would fall by as much as 70% due to a R917m provision for a possible silicosis class action settlement and a R1.7bn impairment of its mines.
Gold Fields said on July 27 it expected to report its interim HEPS for the six months to end-June had more than halved from the matching period’s $0.16.
Its provision for a possible silicosis class action settlement is R509m.
Vehicle parts maker Metair said on July 26 it expected to report on Thursday its HEPS for the six months to end-June had more than doubled.
Statistics SA is scheduled to release June’s civil cases for debt at 9am, wholesale trade sales at 10am, motor trade sales at 11.30am, and building statistics at 1pm.