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Johannesburg - Distribution and Warehousing Network (DAW, Dawn) said on Friday that it anticipates headline earnings per share to be between 50%-55% lower for the six months ended December 2010, at 14.3 cents to 15.9 cents, from 31.9 cents previously.
The group expects earnings per share to be between 55%-60% lower at 12.7 cents to 14.3 cents, from 32.6 cents earlier.
"The decreases were due to continued declines in the level of activity in the building sector since the peak of the market in 2008. Against this, the group took strong action in gaining market share and further containing costs. The group's just in time supply model proved its mettle during the period, with revenue in the Building business almost being maintained and extensive earnings declines limited," it said.
Dawn added, however, that the infrastructure-related businesses were negatively affected by the continued sharp decline in spend in its particular markets and losses increased for the period.
"It is worth noting that the decline in the last six months in HEPS was 8%-13% when compared to the six months to June 2010. This indicates that the rate of decline over the last six months has slowed," the group said.
Dawn expects to publish its results on March 10.
The group expects earnings per share to be between 55%-60% lower at 12.7 cents to 14.3 cents, from 32.6 cents earlier.
"The decreases were due to continued declines in the level of activity in the building sector since the peak of the market in 2008. Against this, the group took strong action in gaining market share and further containing costs. The group's just in time supply model proved its mettle during the period, with revenue in the Building business almost being maintained and extensive earnings declines limited," it said.
Dawn added, however, that the infrastructure-related businesses were negatively affected by the continued sharp decline in spend in its particular markets and losses increased for the period.
"It is worth noting that the decline in the last six months in HEPS was 8%-13% when compared to the six months to June 2010. This indicates that the rate of decline over the last six months has slowed," the group said.
Dawn expects to publish its results on March 10.
