Newly-listed TeleMasters told shareholders this morning it expects the company's maiden interim earnings to the end of March to be significantly up on what was originally forecast.
TeleMasters listed last month on the JSE's alternative exchange, placing 42 million of its 500 million privately-held shares on the market at a value of 50c. In the month following listing, the company's share price has seen a high of R3 and low of R1.62.
This morning's notice to shareholders advised the company expected earnings per share (EPS) and headline earnings per share (HEPS) to be between 50% and 55% higher than what it forecast in its pre-listing statement.
However, the company's pre-listing statement does not provide forecasts for its interim period. Instead, it expects to deliver EPS and HEPS of 17.28c for the full year ended 30 September 2007. Its 2008 financial year should deliver EPS and HEPS of 18.4c.
TeleMasters says the rise in earnings is due to conservative original forecasting, better than expected trading conditions and a R1.5 million better than anticipated recovery from suppliers.
The company's interim results are scheduled to be published within the next two weeks. No trades on TeleMasters' shares had taken place by 10am this morning.
Share