Blue Label to report rise in half-year earnings
JSE-listed Blue Label expects a more than 20% increase in basic, headline and core headline earnings a share for the six months ended November 30, 2021.
Earnings a share for the interim period under review are expected to reach between 59.7c and 61.7c apiece, compared with the 49.92c a share achieved in the prior corresponding period, equating to an increase of between 20% and 24%.
Headline earnings a share will increase by between 47% and 51% to between 60.04c and 61.68c, from 40.96c in the first half of the preceding year.
Core headline earnings a share will increase by 45% to 49% to between 61.83c and 63.54c in the six months ended November 2021.
In a trading update to shareholders, Blue Label noted that core headline earnings for the first half of the year amounted to R549-million, of which R548-million related to continuing operations and R1-million to discontinued operations.
In the comparative period, core headline earnings amounted to R376-million, of which R351-million related to continuing operations and R25-million to discontinued operations.
Excluding non-recurring income of R148-million in the six months under review and R22-million in the prior half-year period, core headline earnings from continued operations increased by R71-million from R329-million to R400-million and core headline earnings a share from continuing operations increased by 22% to 45.68c a share.
“This growth was indicative of a robust trading performance by the group during the period under review,” the company pointed out.
Excluding non-recurring income in both the current and prior periods, earnings a share and headline earnings a share from continued operations increased by 24% to 43.69c and 23% to 43.85c a share respectively.
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