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Johannesburg - Investment holding company PSG [JSE:PSG] advised shareholders that a reasonable degree of certainty exists that its sum-of-the-parts (SOTP) value per share as at October 3 2014 was between R117 and R118, or between 23.1% and 24.2% higher than the R95.01 reported as at February 28 2014.
PSG continues to use the SOTP value and recurring headline earnings per share benchmarks to provide management and investors with what it deems a more realistic and transparent way of evaluating PSG's performance.
For the six month period ended August 31 2014 recurring headline earnings per share will be between R2.50 and R2.55, or between 28.7% and 31.2% higher than the R1.94.3 reported for the six months ended August 31 2013.
Headline earnings per share will be between R3.10 and R3.15, or between 29.7% and 31.8% higher than the R2.39 reported for the six months ended August 31 2013. Attributable earnings per share will be between R3 and R3.10, or between 21.9% and 25.9% higher than the R2.46.2 reported for the six months ended August 31 2013.
The increase in recurring headline earnings per share and headline earnings per share were due to strong performances from the majority of PSG's key investments. Headline earnings per share is higher than recurring headline earnings per share as PSG achieved significant non-recurring headline marked-to-market profits in respect of Thembeka's portfolio of listed shares during the period under review.
Attributable earnings per share increased by a lower percentage than recurring headline earnings per share and headline earnings per share, mainly because of a non-headline loss in respect of goodwill impaired by an associate during the period under review, as opposed to a non-headline fair value gain following Capespan becoming a subsidiary during the previous corresponding financial period.
This financial information has not been reviewed or reported on by the auditor of PSG. The unaudited results for the six months ended August 31 2014 will be published on Sens on or about Monday, October 13 2014.
PSG continues to use the SOTP value and recurring headline earnings per share benchmarks to provide management and investors with what it deems a more realistic and transparent way of evaluating PSG's performance.
For the six month period ended August 31 2014 recurring headline earnings per share will be between R2.50 and R2.55, or between 28.7% and 31.2% higher than the R1.94.3 reported for the six months ended August 31 2013.
Headline earnings per share will be between R3.10 and R3.15, or between 29.7% and 31.8% higher than the R2.39 reported for the six months ended August 31 2013. Attributable earnings per share will be between R3 and R3.10, or between 21.9% and 25.9% higher than the R2.46.2 reported for the six months ended August 31 2013.
The increase in recurring headline earnings per share and headline earnings per share were due to strong performances from the majority of PSG's key investments. Headline earnings per share is higher than recurring headline earnings per share as PSG achieved significant non-recurring headline marked-to-market profits in respect of Thembeka's portfolio of listed shares during the period under review.
Attributable earnings per share increased by a lower percentage than recurring headline earnings per share and headline earnings per share, mainly because of a non-headline loss in respect of goodwill impaired by an associate during the period under review, as opposed to a non-headline fair value gain following Capespan becoming a subsidiary during the previous corresponding financial period.
This financial information has not been reviewed or reported on by the auditor of PSG. The unaudited results for the six months ended August 31 2014 will be published on Sens on or about Monday, October 13 2014.
