Listed electronics company Reunert says earnings per share will be higher year-on-year after it sold out of the local unit of Nokia Siemens Networks.
The company says its results for the year to September, which are expected to be published on 14 November, will show bottom line gains.
Earnings per share are expected to be between 55% and 65% higher, while headline earnings per share will be between 15% and 20% higher, and normalised headline earnings should gain between 10% and 16%.
A year ago, the company reported revenue 4% higher, at R10.7 million. However, basic earnings per share declined 23% to 503.3c, and headline earnings per share dropped 22% to 505.5c. Normalised headline earnings per share gained 3% to 515.7c.
Last November, Reunert said it would sell its 40% stake in the local unit of Nokia Siemens Networks, because it was a passive shareholder. Reunert earned R793.5 million from the sale, which boosted its cash base.
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