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Bidvest’s share price rises on expected interim earnings increase

11th February 2022

By: Tasneem Bulbulia

Deputy Editor Online

     

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JSE-listed Bidvest Group’s share price rose by nearly 11% on Friday after it advised shareholders that its headline earnings per share (HEPS) for the six months ended December 31 would be between 35% and 40% higher year-on-year at between 802c and 832c.

HEPS from continuing operations, which excludes the disposed Bidvest Car Rental, are expected to be between 32% and 37% higher year-on-year at between 794c and 824c.

Normalised HEPS from continuing operations are expected to be 28% to 33% higher at between 834c and 867c. This measure excludes acquisition costs, amortisation of acquired customer contracts and Covid-19 expenses in the base.

Basic earnings per share (EPS) from continuing operations are expected to be between 42% and 47% higher at between 798c and 826c.

This is the result of capital impairments on minor associates and business disposals in the base.

Group basic EPS are expected to be between 44% and 49% higher at between 799c and 827c.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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