Alviva Holdings has issued a trading statement warning stakeholders of significantly lower earnings for the year ended 30 June 2020.
Headline earnings are expected to be 52% to 58% lower than last year, down from R426-million to between R180-million and R205-million.
Earnings per share will be between 57% and 64% lower, from 275.3 cents to between 100 cents and 119 cents. Headline earning per share will be down between 48% and 54%, from 297.1 cents in 2019 to between 136 cents and 155 cents this year.
Core earnings per share, at between 213 cents and 232 cents, are expected to be 34% to 40% lower than last year’s 352.9 cents.
“Although the financial results are disappointing when compared to those in prior periods, given the events that have transpired since the advent of Covid-19, together with the group’s disappointing results for the first six months of the financial period, the company is reasonably comfortable with the position it now finds itself in,” according to the trading statement.
:Since the imposition of the national lockdown, a huge emphasis was placed on maintaining and improving liquidity to ensure the sustainability of the group.”
Alviva’s audited financial results for the year ended 30 June 2020 are expected to be published on SENS on or about 28 September 2020.