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Johannesburg - South African construction firm Wilson Bayly Holmes (WBHO) expects annual earnings to be up to 50% higher than the year-ago period, partly due to the restatement of its investments in certain concessions.
The company said in a statement on Tuesday that earnings per share and headline earnings per share for the year to end-June 2006 were seen at between 30% and 50% higher compared with those for the comparative period in 2005.
"The increases are, in part, due to the restatement at fair values of the group's investments in certain concessions," the
company said, without giving any further details.
Headline earnings is a key measure of profit in South Africa and exclude capital, non-trading and some extraordinary items.