JSE-listed Bell Equipment’s shares on the JSE surged nearly 30% by mid-afternoon on the news that the company expects to report a 70%-plus rise in earnings for the six months to June 30.
In a trading update to shareholders, Bell said earnings a share and headline earnings a share for the half-year under review were expected to be at least 70%, or 47c, higher, than the 67c posted in the prior corresponding half-year.
This was attributed to an improvement in demand, particularly in the South African market, certain one-off recoveries during the period, and the financial recovery of Bell’s Democratic Republic of Congo subsidiary.
Bell expects to publish its interim results on August 31.