JSE blames economic environment for expected 25% drop in earnings per share | Fin24
 
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JSE blames economic environment for expected 25% drop in earnings per share

Jun 24 2019 19:01
Fin24

The Johannesburg Stock Exchange has blamed an unfavourable economic environment for a projected fall in headline earnings per share. Earnings per share are expected to register at between 490.95 cents and 425.49 cents for the six months ended in June, that the exchange announced on Monday.

This is between 25% and 35% lower than the 654.6 cents reported for the six months ended 30 June 2018 and earnings per share for the Group for the period is expected to be between 491.03 cents and 425.56 cents.

A JSE SENS statement released on Monday morning said headline earnings per share for the period were impacted by factors, including a decline in the key activity drivers in the main asset classes traded on the JSE and lower value traded in the equities market.

"Although it is disappointing to reflect these expected results, the JSE revenue performance largely reflects the reality of the difficult economic environment in South Africa which, in turn, impacts investor appetite.

"This notwithstanding, we are committed to resourcing our business and making the investments we need to ensure the long-term sustainability of the JSE as a critical component of the South African economic ecosystem," the statement said.

The SENS statement said the he JSE’s cash and capital remained healthy and position the JSE well to execute on its various strategic initiatives. The statement said information provided in this trading statement has not been reviewed and reported on by the Group’s external auditors.

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