Blue Label Telecoms expects earnings growth
JSE-listed Blue Label Telecoms expects its headline earnings per share for the year ended May 2012, to be between 35% and 45% higher than 46.20 cents previously.
On 19 July 2012, the group reported that non-recurring income arising from an extraneous transaction, the details of which remain confidential, would be expected to result in HEPS exceeding the comparative period by more than 20%.
Blue Label said the growth results from a hybrid of the non-recurring extraneous income received referred to above; the share buy-back and subsequent cancellation of 91,851,852 million Blue Label shares – resulting in the weighted average number of shares in issue reducing to 708,065,944 as at 31 May 2012; as well as the trading performance of the group.
Basic and Core earnings per share are expected to exceed the comparative period by between 5% and 10%, it said.
The group expects to publish its results on 21 August 2012.
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