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Group Five revises earnings forecast

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Johannesburg - Construction firm Group Five [JSE:GBF] on Monday revised its earnings forecast for the year ended June 30 2011, saying that fully diluted headline earnings per share (Heps) are now only expected to be between 40% and 45% lower (309 cents per share to 337c/share) compared to the 561c/share for 2010.

In an earlier trading statement, the group had anticipated fully diluted Heps to be between 45% and 55% lower (253c/share to 309c/share).

It said Heps are expected to be between 45% and 55% lower (276c/share to 338c/share) compared to the 614c/share in F2010, while fully diluted earnings per share (EPS) will be between 185% and 195% lower (loss of 218c/share to loss of 243c/share) compared to the 256c/share in F2010.

EPS are now expected to be between 180% and 185% lower (loss of 224c/share to loss of 238c/share) compared to the EPS of 280c/share in F2010.

The group's audited results for the year ended June 30 2011 will be released on August 15.

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