Sygnia expects jump in earnings when it release full year results in December

Asset management company Sygnia [JSE:SYG] expects headline earnings per share for the year ended September 30, 2019 to increase by between 20% and 27%, compared to the previous year, when it releases its financial results next month.

The abridged audited financial statements will be out on December 4, 2019 according to a trading statement released on Tuesday.

Headline earnings per share is expected to be between 83c per share and 87.9c per share. The rate in the comparative period which ended 30 September 2018 was 69.2c per share.

Earnings per share is expected to increase between 20% to 25% - between 83c and 86.5c - compared to the previous year.

The asset management company said the financial information is has not been reviewed by Sygnia’' auditors.

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In June, the company led by Madga Wierzycka announced it had parted ways with its external auditors Deloitte over what was described as "reputational risk associated with the firm".

Sygnia did not say what reputational risk factors had influenced its decision, but referred to "current news reports regarding the firm".

Compiled by Sibongile Khumalo