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Johannesburg - Tiger Brands [JSE:TBS] advised on Tuesday that both group headline earnings per share (Heps) and earnings per share (EPS) for the six months ended March 31 2011 will improve by between 10% and 15% compared to the previous year.
"As previously advised, the company's BEE (black economic empowerment) Phase II transaction which was approved by shareholders on 12 October 2009, became effective on 20 October 2009. Arising from this transaction, a once-off abnormal charge amounting to R150.7m after tax was included in Heps and EPS for the six months ended 31 March 2010," it said in a trading statement.
"Excluding this once-off abnormal charge from the 2010 half-year results, it is anticipated that both Heps and EPS for the six months ended 31 March 2011 will reflect a decrease of between 1% and 3% compared to that achieved in the corresponding period last year."
The results for the six months ended March 31 2011 will be released on May 30 2011 when a detailed analysis of the performance of the company will be provided, it said.
"As previously advised, the company's BEE (black economic empowerment) Phase II transaction which was approved by shareholders on 12 October 2009, became effective on 20 October 2009. Arising from this transaction, a once-off abnormal charge amounting to R150.7m after tax was included in Heps and EPS for the six months ended 31 March 2010," it said in a trading statement.
"Excluding this once-off abnormal charge from the 2010 half-year results, it is anticipated that both Heps and EPS for the six months ended 31 March 2011 will reflect a decrease of between 1% and 3% compared to that achieved in the corresponding period last year."
The results for the six months ended March 31 2011 will be released on May 30 2011 when a detailed analysis of the performance of the company will be provided, it said.
