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Johannesburg - Shareholders of Group Five [JSE:GBF] are advised that for the year ended June 30 2013 the group expects headline earnings per share (Heps) to be between 145%-165% higher than the Heps of R1.16 per share
for the previous corresponding period.
The fully diluted earnings per share and earnings per share (Eps) are expected to be between R2.65 per share and R2.90 per share against the loss of R2.88 per share for the previous corresponding period.
There was an increase in earnings, due to a pension fund surplus on actuarial valuation, as well as a charge against earnings as a result of the implementation of the revised BBBEE ownership transaction, the net effect of which was not material to the group's results for the year.
The underlying performance of all the group's businesses was pleasing in the context of weak domestic markets and in line with expectations.
Emphasis on a larger geographic footprint for more of the group's business units, the beneficial contribution of the group's strategic positioning for annuity-type businesses of investments and concessions, manufacturing and operations and maintenance contracts as well as the group's strong position in African mining and energy and its leading position in the domestic water and power sector has mitigated, to some extent, the effects of continued fragility in the South African building and civil engineering markets.
This is reflected in order book stability which has provided the base for the anticipated improvement in the group's cautiously positive outlook.
The group initiated its own comprehensive internal investigations, with regards to anti-competitive behaviour, in 2009 and was a major contributor of information to the Competition Commission's investigation into the sector for the last four years.
The group believes these actions have demonstrated its commitment to ensuring ethical business in the construction industry. The group remains engaged with the Competition Commission, and continues to support its investigation into the construction industry which has provided the group a leniency position on 25 contracts.
Good progress has been made with the disposal of the discontinued construction materials businesses, with the majority of the businesses transferred to new owners, and cash received. The final transaction has been agreed and is in the process of implementation.
The fully diluted earnings per share and earnings per share (Eps) are expected to be between R2.65 per share and R2.90 per share against the loss of R2.88 per share for the previous corresponding period.
There was an increase in earnings, due to a pension fund surplus on actuarial valuation, as well as a charge against earnings as a result of the implementation of the revised BBBEE ownership transaction, the net effect of which was not material to the group's results for the year.
The underlying performance of all the group's businesses was pleasing in the context of weak domestic markets and in line with expectations.
Emphasis on a larger geographic footprint for more of the group's business units, the beneficial contribution of the group's strategic positioning for annuity-type businesses of investments and concessions, manufacturing and operations and maintenance contracts as well as the group's strong position in African mining and energy and its leading position in the domestic water and power sector has mitigated, to some extent, the effects of continued fragility in the South African building and civil engineering markets.
This is reflected in order book stability which has provided the base for the anticipated improvement in the group's cautiously positive outlook.
The group initiated its own comprehensive internal investigations, with regards to anti-competitive behaviour, in 2009 and was a major contributor of information to the Competition Commission's investigation into the sector for the last four years.
The group believes these actions have demonstrated its commitment to ensuring ethical business in the construction industry. The group remains engaged with the Competition Commission, and continues to support its investigation into the construction industry which has provided the group a leniency position on 25 contracts.
Good progress has been made with the disposal of the discontinued construction materials businesses, with the majority of the businesses transferred to new owners, and cash received. The final transaction has been agreed and is in the process of implementation.
