Publications
Partners
Johannesburg - Restaurant franchisor Spur Corporation [JSE:SUR] advised on Friday that headline earnings and headline earnings per share for the year ended June 30 2010 are expected to be between 12% and 17% higher than those for the prior year.
Earnings and earnings per share are expected to be between 20% and 25% higher. The group said that earnings for the year had benefited from a foreign exchange credit of R1.6m compared to a foreign exchange loss of R1.3m in the prior year.
In addition, prior year earnings were negatively impacted by impairment losses of 10 million relating to Australian subsidiaries' property, plant and equipment and goodwill and non-trading losses in an Australian associated entity of R1.5m.
The full extent of these losses did not recur in the current year, Spur said.
"Excluding these and other once-off or abnormal items, earnings and earnings per share for the year are expected to be between 11% and 16% higher than those for the prior year," it pointed out.
The group's year-end results will be announced on Sens on September 16 2010.
Earnings and earnings per share are expected to be between 20% and 25% higher. The group said that earnings for the year had benefited from a foreign exchange credit of R1.6m compared to a foreign exchange loss of R1.3m in the prior year.
In addition, prior year earnings were negatively impacted by impairment losses of 10 million relating to Australian subsidiaries' property, plant and equipment and goodwill and non-trading losses in an Australian associated entity of R1.5m.
The full extent of these losses did not recur in the current year, Spur said.
"Excluding these and other once-off or abnormal items, earnings and earnings per share for the year are expected to be between 11% and 16% higher than those for the prior year," it pointed out.
The group's year-end results will be announced on Sens on September 16 2010.
