Cashbuild sees normalised earnings higher

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Cashbuild said on Wednesday that it expects to announce normalised headline earnings per share and normalised earnings per share the full year ended 30 June 2011, between 25% to 30% higher than previously.

In 2010, the retailer of building materials and associated products reported diluted headline earnings per share of 713.7c, and diluted earnings per share of 717.7c per share.

Cashbuild said that it expected headline earnings and earnings per share for the second half of the year to be between 5% and 10% higher than that of the same period of the prior year.

"However, when including the once-off effects of the previously reported BEE repurchase of shares concluded in December 2010 and subsequent distribution to Trust beneficiaries, statutory headline earnings per share and earnings per share for the full year ended 30 June 2011 are expected to be 5% to 10% lower than that of the prior year," the group said.

In 2010, the group declared a final dividend of 127c, making a total dividend of 233c. Revenue was at R5.369 billion, with an operating profit of R239.4 million.

Cashbuild said it expected to publish its results on about September 20.

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