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Moneyweb revises its earnings estimates

Johannesburg - AltX-listed media company Moneyweb Holdings [JSE:MNY], announced on Monday it expected its earnings to be lower than originally anticipated after reviewing the carrying value of its assets two days before it releases in full year result to March 2010.

The revised earnings estimates are steeply lower that the figures Moneyweb forecast when it issued a trading update almost a month ago.

On May 25, the company said it anticipated basic and headline earnings per share to be between 3.29 cents per share and 4.03 cents per share.

On Monday, it said in another trading update the board had decided to impair the carrying value of its mini-sites, reducing the basic and headline earnings per share to between 2.05 cents per share and 2.25 cents per share.

"Following the finalisation of the financial results for the 2010 year end, the board has decided to review the carrying value of assets relating to certain of the group's mini-sites," Moneyweb said on Monday.

Moneyweb is expected to release financial results on Wednesday.

Moneyweb operates Moneyweb.co.za, its flagship website. It has other sites such as Mineweb.com, and Moneywebmarket.co.za. 

  - I-Net Bridge
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