Metrofile earnings on decline

By Staff Writer for Metrofile

Johannesburg, 20 Feb 2008

JSE-listed Metrofile's earnings per share (EPS) and headline EPS (HEPS) are expected to be down significantly year-on-year.

In a trading update to shareholders yesterday, the company said both were expected to come in at around 5.5c per share. This is around a 40% decline on the EPS of 9.5c and HEPS of 9.4c delivered during the 2006 interim period.

However, Metrofile has advised shareholders to note that the 2006 results were stated after accounting for a number of once-off items. Additionally, the weighted average number of shares issued during the period also affected EPS and HEPS.

"To assist shareholders, it has been calculated that if the refinancing and issue of new shares had taken place on 1 July 2006, and if there had been no exceptional items, capital gains, reversal of tax provisions or interest on provisions for claims still unresolved, then HEPS and EPS on the full number of shares now in issue would have been 3.5c for the six-month period ended 31 December 2006," it said.

The company has asked shareholders to compare the 2007 interim HEPS of 5.5c per share to the adjusted normalised HEPS of 3.5c per share for the same period in 2006.

The company expects to release its results at the end of the month.