Adds particulars, CEO touch upon coronavirus
Adds particulars, CEO touch upon coronavirus
JOHANNESBURG, March 2 (Reuters) – Headline earnings per share at South Africa’s Bidvest BVTJ.J fell by 3.9% in its first-half after new worldwide accounting requirements and a write-off of cash owed by struggling South African Airways (SAA).
Bidvest, whose companies spans freight, automotive, aviation providers and workplace and print, stated normalised headline earnings per share (HEPS) for the six-months ended Dec. 31 have been 610.9 cents in contrast with 635.7 cents in 2018.
Excluding the consequences of the IFRS 16 accounting change, normalised HEPS rose 0.1%, Bidvest stated in a press release.
Bidvest, which owns 27.2% of airline operator Comair COMJ.J, stated it had taken a share of Comair’s impairment of the SAA settlement owed to it.
In February, Comair, which operates low-cost provider Kulula.com, stated SAA had breached the phrases of a 1.1 billion rand settlement settlement after it was positioned beneath…