Jasco expects earnings dip

Jasco Electronics Holdings (JSC) advised on Friday that for the six months ended December‚ it expects headline earnings per share to be between 25% and 30% lower at between 4.8c and 5.2c compared with 6.9 cents for the previous corresponding period.

Earnings per share are seen between 55% and 60% higher – between 9.9 cents and 10.2 cents – than the 6.4 cents per share for the previous corresponding period.

Jasco said while the group’s core businesses performed satisfactorily‚ adverse market conditions severely effected the performance of Lighting Structures and M-TEC‚ which reduced overall group profitability.

With effect from December 1 last year Lighting Structures was sold to Jasco’s international partner in this business.

The difference between the EPS and HEPS is due to profit on the disposal of property and the loss on disposal of Lighting Structures. Both of these disposals have a once-off effect‚ it said.

Jasco´s results will be announced on February 7.

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Jasco expects earnings dip