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Imperial Holdings [JSE:IPL] said on Friday it expected earnings per share to increase by 34% to 41% when it releases its interim financial results on August 21, supported by improved exchange rates and profit from the sale of assets.
Earnings per share are expected to be between R16.35 and R17.25 when the results are unveiled.
The logistics group also said its proposed unbundling of the automotive business was on track, including a separate listing on the JSE.
It announced that it expected to lift headline earnings per share to double-digit growth, off 2017's low base, with improved capital efficiency and gearing resulting in a debt to equity ratio of 50% to 60%.
Despite an upbeat announcement, its share price had slid on Friday afternoon.
Early in 2018, Imperial sold its insurance business, Regent, to Hollard for an estimated R1.8 billion, and the upcoming results would not reflect Regent's operations.
Imperial Logistics and the motor vehicle business, Motus, are said to have increased revenues and operating profits.
The company was in April embroiled in a scandal involving former CEO Mark Lamberti, who resigned after the high court ruled against him in a race and gender discrimination case.
Lamberti was said to have referred to an ex-employee Adila Chowan as "female employment-equity" in front of fellow managers, and said she would need as many as four more years to develop her leadership skills.
Lamberti has since apologised unreservedly for the remarks.
Former Imperial's Chief Financial Officer Osman Arbee took over as CEO in May.
At 13:57 on Friday, Imperial Holdings shares were changing hands at R208.15 per share, down 2.80%.
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