JSE-listed diversified holding company Reunert says a key measure of performance will gain between 7% and 12% when it publishes year-end results.
The group, which expects to publish its annual financial statements on 20 November, says headline earnings should gain between 7% and 12%. Analysts view headline earnings as a core indicator of performance as the measure strips out unusual items.
Earnings per share will be between 17% and 22% lower, because last year's figures included a once-off gain from its sale of its 40% stake in Nokia Siemens Networks SA, which garnered it R346.4 million.
Reunert's minority stake in NSN meant it was a passive shareholder and had no control over the business. The listed company has historically held a 40% stake in Siemens Telecommunications, which later became a 40% stake in NSN after Nokia and Siemens merged the business in 2007.
A year ago, the group reported revenue slightly up at R10.9 billion, from R10.68 billion, and said basic earnings per share gained to 809c, from 503.3c, while headline earnings per share came in at 598.3c, up from 505.5c.
The group's share price closed slightly lower, at R76.78, a 122c or 1.56% decline on the day. The JSE's All Share index closed 0.32% higher.
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