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Howden earnings rise

Johannesburg - Howden Africa Holdings [JSE:HWN], a design, manufacturer and marketer of air and gas handling solutions said on Friday that its headline earnings per share from continuing operations are in the range of between 145c and 163c for the year to 31 December 2009, from 93.22c preciously.

The group said it expects the same range for its earnings per share, from 92.41c earlier.

"The forecast earnings per share for the year ended 31 December 2009, benefited from a tax credit of R1.7m allowed by the authorities for the write-off of intellectual property acquired when the Company listed in 1996.

"In 2008 the tax charge included an STC amount of R6.6m in respect of the special dividend of R65.7m paid in that year," it said.

Howden said that excluding the aforementioned tax adjustments, the forecast earnings per share would still be more than 20% different from that of the previous reporting period.

The group expects to publish its results in due course.

- I-Net Bridge

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