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Nampak FY headline earnings expected to increase

15th November 2017

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

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JSE-listed Nampak expects its headline earnings per share (HEPS) for the financial year ended September 30 to increase by 11% to 17% to between 119.4c and 125.9c, compared with 107.6c apiece in the prior year.

Earnings per share (EPS) are, however, expected to contract by 84% to 88% to between 30.5c and 40.7c a share in the year under review.

This compares with EPS of 254.5c in 2016, which was bolstered by a R1.3-billion one-off capital profit.

The reported HEPS excludes capital profits and impairments, but includes foreign exchange losses and onerous contract provisions, while EPS includes capital profits, foreign exchange losses, onerous contract provisions and asset impairments.

Nampak further expects its trading profit for the year to edge up by 1% to 4% to between R1.93-billion and R1.99-billion.

“Total impairments and an onerous contract provision and related costs, which are included in the above figures, are likely to be between R720-million and R760-million, compared with R360-million in the prior year,” Nampak said in a trading update.

Foreign exchanges losses are expected to decrease by 74% to 78% to between R150-million and R180-million for the year under review.

Nampak will publish its financial results on November 28.

Edited by Creamer Media Reporter

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