JOHANNESBURG (miningweekly.com) – JSE-listed Petmin expects its basic earnings a share for the six months ended December 31, to be about 216% higher year-on-year at 8.3c, compared with a loss of 7.15c for the six months ended December 31, 2015.
Petmin had incurred a R115-million impairment on the investment in the Veremo project in the six months to December 2015.
Meanwhile, headline earnings per share (HEPS) for the period are expected to be 8.3c, down 42% from the 14.32c recorded in the prior comparable period.
The lower HEPS are owing to a 27% reduction in the average rand prices achieved on the export market.
The company's interim results will be published on February 23.