HEPS for the six months ended December 2014 were expected to drop to 58.90c from 84.14c in the year-earlier period.
The decline in earnings was due to the accounting for the broad-based black economic empowerment equity transaction with GPI‚ Spur said.
The transaction resulted in the issue of 10‚848‚093 new ordinary shares and a share-based payment expense of R32.957m for the period. The issue of shares had resulted in an increase in the weighted average number of shares in issue from 85.633-million in the previous comparable period to 89.178-million shares for the period ended December 2014‚ Spur said.
Excluding the effect of the GPI transaction‚ HEPS was expected to increase by between 14% and 19% from 85.14c in the previous comparable period to between 97.05c and 101.31c for the period ended December 2014.
The company is due to report its interim results on 26 February 2015.
Source: BDpro via I-Net Bridge
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