Eqstra adjusts HEPS, EPS forecast following Protech Khuthele liquidation
Industrial and capital equipment group Eqstra on Friday said it expected its headline earnings per share (HEPS) for the year ended June 30 to decrease by between 25% and 30%, while earnings per share (EPS) were expected to be between 37% and 42% lower.
The company had previously advised shareholders that it expected its HEPS and EPS for the period to decline by between 32% and 42%; however, subsequent to this announcement, Protech Khuthele Holdings, in which the company held 32.8%, was placed under liquidation.
Therefore, Eqstra had adjusted the R63-million investment impairment for HEPS that had not been taken into consideration in the previous announcement, the company explained.
Eqstra would release its full-year results on or about September 2.
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