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UCS warns of lower earnings

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Shareholders are advised that UCS expects earnings and headline earnings per share to be between 50% and 55% lower for the six months ended 31 March 2011 than the reported earnings and headline earnings per share for the previous corresponding period.

The inclusion of the acquisitions concluded in the second half of the previous financial year, namely Argility and Cquential Solutions, a R17,4-million once-off cost relating to restructuring and related retrenchment costs applicable to Argility and R4,4-million transaction costs associated with the Business Connexion transaction, contributed to the decline in earnings for the period.