Blue Label to report double-digit rise in earnings
JSE-listed Blue Label expects a double-digit rise in earnings for the year ended May 31.
In a trading statement issued to shareholders on Wednesday, the company says that its earnings per share (EPS) will increase between 136% and 140% from 30.48c in 2023 to a range of between 71.88c and 73.1c in 2024.
Headlines earnings per share (HEPS) are expected to reach between 72.8c and 74.48c, an increase of 73% to 77% from the 41.97c reported in 2023.
The company’s core HEPS for the year under review is set to increase 65% to 69% to between 75.17c and 76.99c.
“Core headline earnings for the year ended May 21, 2024, amounted to R679-million, compared with R402-million in May 2023, equating to core headline earnings of 76.08c a share,” Blue Label says in the statement.
Excluding the positive contributions of R66-million in the current year, and the negative contributions of R523-million in the comparative year, primarily resulting from the recapitalisation transaction of Cell C, core headline earnings declined by R312-million, or 34%, from R925-million to R613-million.
Consequently, core HEPS also dropped by 34%, from 104.83c a share to 68.66c a share.
“On exclusion of the positive and negative contributions from both the current and comparative years, primarily resulting from the recapitalisation transaction of Cell C, EPS and HEPS declined by 35% to 65.07c a share and 66.22c a share, respectively.”
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