Vunani Limited, a South African financial services company, issued a trading update on Wednesday. The company anticipates a significant drop in its earnings for the year ended February 29, 2024.
Earnings Overview
Vunani expects basic earnings per share (EPS) to be between 5.7 cents and 12.3 cents. This represents a decrease of 63% to 83% from the previous period. Last year, Vunani reported basic EPS of 33.0 cents.
The company also expects headline earnings per share (HEPS) to be between 5.0 cents and 11.0 cents. This marks a decline of 63% to 83% compared to the previous year’s 30.1 cents per share.
| Metric | FY 2024 Expected | FY 2023 Actual | Change (%) |
|---|---|---|---|
| Basic EPS | 5.7 – 12.3 cents | 33.0 cents | -63% to -83% |
| Headline EPS | 5.0 – 11.0 cents | 30.1 cents | -63% to -83% |
Financial Performance
The company’s financial results for the year ended February 29, 2024, are still being finalized. The annual results are scheduled to be released on June 14, 2024.
Vunani has not yet disclosed the reasons behind the anticipated decline in earnings. The company’s auditors have not reviewed the financial information on which this trading update is based.
Impact on Shareholders
Shareholders should note that the significant decrease in EPS and HEPS could affect the company’s stock price. The anticipated decline in earnings suggests that Vunani faced challenges during the year.
Conclusion
Vunani Limited’s trading update reveals a significant drop in earnings for the year ended February 29, 2024. Shareholders and investors will be closely monitoring the release of the full-year results. The market reaction to the anticipated decline in earnings could impact Vunani’s stock performance.