Barloworld FY HEPS seen between 8% to 12% higher

10 Nov 2014

Diversified industrial group Barloworld (BAW) said in a trading update on Thursday, 6 November, headline earnings per share (HEPS) from continuing operations for the year to end September is expected to be between 8% to 12% higher.

Image source: www.barloworld.com

The expected HEPS rise of between 62c and 94c is higher than the comparable restated HEPS of 780c in the previous period.

Full year HEPS‚ including discontinued operations‚ is expected to be 5% to 10% (41c to 82c) higher than the comparable restated HEPS of 821c in the prior year.

The group said it had continued its solid performance from the first half with a pleasing overall second half operating performance for the year.

Its equipment southern Africa division delivered a good increase in operating profitability despite the ongoing slowdown in the mining sector.

Higher than planned activity in the extended mining product range (EMPR)‚ growth in aftermarket revenues and rand weakness contributed positively to the results.

Equipment Russia had a stronger second half but construction and public works activity in Iberia remained subdued and trading losses continued in the second half.

The automotive and logistics division produced another strong performance with all business units performing well ahead of the prior year.

The results are expected to be announced on November 17.

At 3.29pm Barloworld shares were up 1.40% to R99.51.

Source: BDpro

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