Blue Label expects half-year earnings improvement
JSE-listed Blue Label is optimistic of a more than 20% increase in half-year earnings.
Basic, headline and core headline earnings per share (HEPS) for the six months ended November 30, 2019, are expected to improve by 2.52c, 3c and 2.28c, respectively.
This compared favourably with the reported losses on basic, headline and core HEPS of 12.59c, 15.02c and 11.39c achieved in the comparative period in 2018.
“For the six months ended November 30, 2018, fair value losses totalling R493-million and the group’s share of equity accounted losses in Cell C amounting to R133-million were recognised,” Blue Label said in a trading update on Thursday.
“No further fair value losses related to the special purpose vehicles (SPVs) were recognised in the current reporting period as the exposure to the SPVs has been fully accounted for as at May 31, 2019.”
As the carrying value of Blue Label’s investment in Cell C was fully impaired for the year ended May 2019, the financial results of Cell C during the current period will not have an impact on Blue Label’s earnings for the current reporting period.
“The above two factors are the primary contributors to the expected growth in earnings,” the company continued.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation