Barloworld projects increase in headline earnings

WINDHOEK, 09 MAY  – Barloworld has projected an increase in headline earnings per share (HEPS) from continuing operations for the six months that ended 31 March 2018 to be between 10 per cent and 20 per cent.
The projected growth is higher than the restated reported HEPS for the previous six months ended the same period in 2017.
The company reported a HEPS of 400 cents, which it said would translate to an expected range between 440 cents and 480 cents from continued operations.
The company revealed this in its trading statement for the six months ended 31 March 2018, on Tuesday.
Barloworld added that it recorded improved results during the period under review on the back of strong earnings in its Southern African and Russian Equipment businesses.
It further expected that HEPS, including continuing and discontinued operations for the six months ended 31 March 2018, to be between 15 per cent and 25 per cent higher than the adjusted reported earnings per share (EPS) from continuing operations for the six months ended 31 March 2017 of 380.50 cents.
This translates to expected EPS from continuing operations to range between 437.60 cents and 475.6 cents for that period.
Revenues were impacted by the sale and closure of a number of BMW and GM dealerships during the 2017 financial year, while income in logistics was negatively impacted by lower activity.
Barloworld is a distributor of earthmoving equipment and power systems, automotive and logistics, with its head office based in South Africa. It is also listed on the Namibian Stock Exchange.
NAMPA