GijimaAST expects that it's six-month earnings for the period ended 31 December will be about the same as for the previous year – but they would have been a lot better if not for the volatile foriegn exchange fluctuations.

The company released a statement today advising investors that its reported basic earnings per share (EPS) and headline earnings per share (HEPS) for the period are expected to be reasonably in line with the reported EPS of 4.36 cents and HEPS of 4.25 cents for the six months ended 31 December 2008.
"Reported EPS and HEPS are both expected to end the six months to December 2008 between 4.00 cents and 4.50 cents," the statement says.
"GijimaAst`s profits are impacted by foreign exchange translation differences on consolidation of its intercompany loan accounts denominated in foreign currencies," it adds.
"These differences do not have any impact on the company's cash flow or operations. The volatility in foreign currency movements experienced during the six months ended 31 December 2008 resulted in the inclusion of a significant foreign exchange loss in the reported basic earnings per share, compared to a foreign exchange gain reported in the comparative reporting period.
"Should the impact of foreign exchange translation differences be eliminated in the current and comparative reporting periods, GijimaAst`s normalised earnings per share for the six months ended 31 December 2008 are expected to improve between 80% and 100% from the normalised profit per share from continuing operations for the six months ended 31 December 2008."
GijimaAST is expected to release its results on about 4 March.