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Bell’s shares surge on H1 earnings expectations

14th August 2017

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

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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.

Edited by Creamer Media Reporter

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