Italtile H1 HEPS to be 20%-24% higher

Italtile (ITE) says headline earnings per share for the six months ended 31 December 2015 are expected to be between 42.8c and 44.3c‚ reflecting an improvement of between 20% and 24% on the previous comparable half-year.

System-wide turnover for the six months would be between 12% and 15% higher than the prior comparative period‚ while trading profit would be between 15% and 19% higher‚ it said.

Anglo American Platinum headline earnings to be 83%-92% lower Anglo American Platinum (AMS) advised in a trading update on Monday that headline earnings and headline earnings per share (HEPS) for the 12 months ended December 31 2015 are expected to be between 92% and 83% lower than the previous year.

It said headline earnings would be between R60m and R135m‚ and HEPS between 25c and 55c.

This compares with headline earnings and HEPS of R786m and 301c respectively for the prior year.

“The expected decrease in earnings and headline earnings is largely due to impairments and write-offs of the carrying value of assets of R14bn (post-tax)‚ with only R1.8bn impacting headline earnings; restructuring costs amounting to R850m (post-tax) due to reorganising the support and service functions to ensure a right-sized

overhead structure to support a more focused business; and the implementation of operational plans which focus on the need to deliver positive cash flows and further increase efficiencies which ultimately led to a reduction in

contractors and employees‚” the company stated.

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