ARB expects to report higher interim earnings
Investment company ARB Holdings expects its earning per share (EPS) for the six months ended December 31, to be between 31.39c and 33.60c, which is between 35% and 45% higher than the EPS of 23.25c reported for the corresponding period in 2018.
Moreover, the company expects it headline earnings per share (HEPS) for the period to be between 31.28c and 33.59c, which is between 35% and 45% higher than the HEPS of 23.17c reported for the corresponding period in 2018.
ARB attributed the expected increases primarily to the effects of the noncash International Financial Reporting Standards adjustment arising from a decrease in the valuation of the put option liability issued to the noncontrolling interest in Eurolux of between R4-million and R8-million, compared with the R10.6-million expense (increase in valuation) for the comparative period last year.
ARB will release its interim results on February 19.
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