Ellies expects drop in earnings
JSE-listed Ellies on Wednesday said it expected double-digit declines in earnings for the year to April.
The group’s earnings a share and headline earnings a share for the year under review would be between 65% and 75% lower than the respective 74.24c and 74c posted during 2013.
The company’s results for the year ended April 30, 2013, reflected the Eskom Project Power Save Programme, completed during that period, which was not repeated in the year ended April 30, 2014, together with the necessary stock disposals in the latter half of that year.
Ellies would publish the 2014 financial results on July 22.
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