Electronics group Reunert expects to report an increase of 25% to 35% for the six months to end-March.
The group, which is finalising the interim results, says the main reason for the improvement is a combination of a favourable operational performance and the share buyback concluded in the previous financial year.
The buyback had the effect of reducing the number of shares in issue.
For the six months to March 2004, Reunert achieved a 20% increase in headline earnings per share, from 115.4c to 138.7c.
This means the group should report headline earnings in the range of 173.4% to 187.2c a share.
The Reunert share shed 40c or 1.1% to close at 3 440c on the JSE yesterday.
Reunert, listed in the JSE`s electronics and electrical sector, manages several businesses focused on electronics and electrical engineering.
Among the companies it owns are Nashua, Nashua Mobile, Nashua Connect, Panasonic, Saco Systems and CBI. It also has a stake in Siemens Telecommunications and until last year owned a shareholding in CS Holdings, which was subsequently bought in its entirety by Bytes Technology Group.
Reunert said at the time that it sold its 32% stake that it stood to make a loss of R31.2 million on the deal.
It also sold 25.1% of its cable interests to black-owned Powerhouse Utilities in December, in a deal valued at R130 million. This was after Reunert acquired from Pirelli a 50% stake in African Cables Holdings in September, bringing its shareholding to 100%.
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