Group Five expects higher H1 earnings
Group Five on Friday said it expected double-digit increases in earnings as its investments and concessions cluster “more than offset” a continued weak construction environment during the first half of the current financial year.
During the six months to December, fully diluted headline earnings a share were expected to grow by between 15% and 25%, from the 108c apiece posted in the corresponding period last year, to some 124c to 135c a share.
The group’s headline earnings a share were also estimated to be between 15% and 25% higher at around 125c to 136c apiece in the period under review.
The interim period’s fully diluted earnings per share (FDEPS) and earnings per share (EPS) were anticipated to rise by 35% to 45% on the FDEPS of 117c and EPS of 118c a share reported for the six months to December 2014.
Group Five’s engineering and construction unit’s performance was impacted by weaker trading in South Africa, combined with additional rationalisation costs. Manufacturing’s muted performance was in line with forecasts. Group Five will release its interim results on February 15.