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Jasco performance marred by disposal

1st February 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JSE-listed Jasco expected to report 55% to 60% higher earnings a share during the six months ended December.

Earnings were expected to rise to between 9.9c and 10.2c a share, compared with the 6.4c a share in the corresponding period the year before.

Headline earnings a share, however, were forecast to be between 25% and 30% lower owing to the loss on the disposal of its poor-performing Lighting Structures unit on December 1.

Headline earnings a share would fall from 6.9c in the six months ended December 2011, to between 4.8c and 5.2c in the period under review.

“While the group’s core businesses performed satisfactorily, adverse market conditions severely impacted the performance of Lighting Structures and M-Tec, which reduced overall group profitability,” the company said in a statement.

Jasco would release its interim results on February 7.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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