JSE-listed Bell Equipment expects its earnings per share (EPS) and headline earnings per share (HEPS) for the year ended December 31, to be at least 70% lower than the EPS and HEPS of 283c and 278c, respectively, reported for the 2018 financial year.
The expected decrease in earnings is mainly owed to the International Financial Reporting Standards 2 Share-based payment charge relating to the black economic empowerment transaction announced in December; a slowdown in market demand and strong pricing competition in the markets in which the group is active, especially in South Africa, in the second half of 2019; and high interest costs on higher than planned inventory levels.
The company’s results for the period are expected to be announced on or about March 30.