Comparex Holdings` interim results, to be published next week, are expected to show a decline in headline earnings per share, although basic earnings per share are to show a solid improvement.
The group says it is in the process of finalising its results for the six months to 30 November last year and expects to publish them on or about 23 February.
Earnings per share are expected to be between 10% and 30% higher than the earnings of the first half of the previous financial year.
However, headline earnings per share are expected to be "significantly" lower than in the previous corresponding period.
According to JSE listings requirements, "significantly" refers to a change of less than 10%.
"Both differences are mainly attributable to the implementation of AC133 [an accounting standard] and the reversal of the previous impairment provision relating to the value of the preference shares held in a member of Nitac, the underlying investment being Comparex and Dimension Data shares," it says.
Black economic empowerment entity Nitac, the National IT Acquisition Consortium, bought control of Comparex Africa, then Persetel Q Data Africa, in 1997.
After the much-publicised sale of the European-based networking business to Dimension Data in 1999, and the subsequent unbundling of the Dimension Data shares received through that deal, the Nitac members, led by Real Africa Holdings, decided to swap their interest in Comparex Africa for a minority shareholding in Comparex Holdings and a portion of the Dimension Data shares.
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