Company Data
| Last traded |
R32,992.25 |
| Change |
R-53.88 |
| % Change |
-0.16% |
| Cumulative volume |
193.41m |
| Market cap |
R0.00 |
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May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - Shares of South Africa’s
Group Five [JSE:GBF] dived more than 2% after the company said it expected its diluted headline earnings per share for the 2011 financial year to be between 45% and 55% lower than last year.
Headline earnings per share were at 561 cents in 2010.
The construction services group said that while the industry had solid medium- and long-term prospects in targeted regions and sectors, conditions in the short term are worse than previously envisaged.
Its shares were down 2.66% to R29.65, outperformed by the Johannesburg
All Share [JSE:J203] index which is down 0.46%.
In a trading update, Group Five said the slowdown in the construction sector in the last two years had worsened trading conditions in the construction and materials markets in which it operated.
"This has negatively impacted performance in the current year as the group still benefited in the 2010 financial year from the majority of large public sector contracts awarded ahead of the World Cup. In the interim, to mitigate this environment to some extent, the group has successfully re-entered targeted African markets where it has an established track record," it said.
It said that in the second half of the financial year the group incurred a number of once-off costs which negatively affected headline earnings.