Peregrine warns investors of a pending 45% drop in earnings
DURBAN – Peregrine Holdings share price fell by almost 2percent on the JSE on Friday morning after the financial services group warned that its earnings for the six months to end September are likely to fall by 45percent.
However, the group did not provide reasons for the expected decline in earnings per share (Eps) and headline earnings per share (Heps).
It said that Heps and basic Eps for the current period are likely to decline by between 35 to 45percent, which is between 45.1cents a share and 57.9c a share.
Last year the group reported Heps and Eps of 128.7c.
The share price responded negatively to the trading update as it declined to R16.75 a share on the JSE, down from Thursday’s closing price of R17.08.
Source: iol.co.za
