Brait bumps up outlook for earnings
Ayanda Shezi
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Economics Correspondent
FINANCIAL services group Brait rose 6,8% on Friday after the company said it expected that diluted earnings a share and headline earnings a share for the group for the year ended March 31 would be within the range of 30,1 to 36,1 US cents a share.
Brait hedges its South African capital into dollars, which is the currency it reports in.
CE Antony Ball said the group had enjoyed unique leverage from positive market conditions and from exceeding its own performance targets.
The group has shed its bank trading, lending and legal businesses and is now focused on private equity, alternative asset management and select advisory services.
The company said this marked a further improvement on the trading statement released in February, which indicated that diluted earnings a share and headline earnings a share of the group were likely to be within a range of 22,7c-27,2c a share. Diluted earnings and headline earnings a share for the year ended March 31 2004 were 2c a share and 6,5c a share, respectively.
Basic earnings a share and headline earnings a share of the group for the year ending March 31 this year are likely to be within a range of 33,0c to 39,6c a share.
Ball said that details on the performance of the group would be provided when its fully audited results were published on or about May 26
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