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WBHO expects lower half-year earnings

10th February 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Engineering and construction group Wilson Bayly Holmes-Ovcon (WBHO) has warned of lower earnings for the six months to December 31, owing to lossmaking projects and poor performances from its Australia-based civil subsidiaries WBHO Civil and Probuild Civil.

The remaining business segments performed largely in line with expectations.

The JSE-listed group’s headline earnings per share (HEPS) for the first half of the year were expected to contract by between 5% and 10% to between 528c and 557c, compared with the 586c apiece achieved in the prior comparable period.

Earnings per share (EPS) were expected to increase by 5% to around 576c for the period under review.

Restated EPS would decline by between 10% and 15% to between 547c to 579c for the six-month period to December, compared with 644c in the prior comparative period.

Restated HEPS in respect of continuing operations were also expected to decrease by between 15% and 20% compared with the 649c achieved in the first half of the prior financial year.

WBHO would publish its financial results for the six months to December 31, by February 23.

Edited by Creamer Media Reporter

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