Ellies H1 HEPS seen 35% – 40% higher

Ellies Holdings (ELI), a manufacturer and distributor of electronic products related to television reception including satellite and terrestrial aerial range, said on Tuesday that it expects earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended October 2011 to be between 35% and 40% higher than in 2010.

By mid morning on the JSE, shares in Ellies advanced by as much as 5.88% or 15 cents to R2.70, having skyrocketed 15% in midday trade on Friday before settling somewhat.

In November, the group advised that it expected EPS and HEPS to be at least 30% higher than 15.16 cents and 15.12 cents recorded in 2010 respectively.

The group reported revenue of R652.56 million for the six months ended October 2010, and a pre-tax profit of R78.96 million.

Ellies expects to release its results on about January 24.