Business Connexion Group expects to report full-year headline earnings of between 32c and 38c a share for the year to end-May.
The group, formerly Comparex Africa Group, has undergone an extensive restructuring since its merger with Business Connexion.
Basic earnings are expected to be in the range of 45c to 50c a share, the group says in a trading statement.
It points out that historical earnings included interest earned on the surplus cash held by the Comparex Holdings group, which was earned by subsidiary Comparex International Trading.
However, as this was not a Business Connexion subsidiary, the interest on the surplus cash, which was distributed to shareholders, will not be included in Business Connexion`s results.
It says the exclusion of this interest from the results for Comparex Holdings` continuing operations in the year to 31 May 2003 would have seen a reduction of 47.3% in headline earnings per share and 51.4% in earnings per share.
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