Financial services company Alexander Forbes said on Thursday it expected its headline earnings per share for the year to March 31 to be down between 14 and 19 percent at 43.1-45.7 cents compared with 53.4 percent last year.
The company said based on information currently available, profit from operations before non-trading and capital items was expected to be between four and six percent higher than the R937 million reported for the year ended March 2017.
“This expected increase reflects, in particular, operating and expense efficiencies combined with revenue growth across key business lines aligned to our Ambition 2022 strategy,” it said.
Headline earnings were however likely to decrease as a consequence of, among others, the disposal of its 60 percent interest in Lane Clark and Peacock LLP and the sale of 10 percent of the group’s Africa operations to African Rainbow Capital Proprietary Limited.
Alexander Forbes is due to release the results around June 11.