B&W Instrumentation and Electrical sees drop in earnings

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B&W Instrumentation and Electrical (BWI) advises that earnings per share and headline earnings per share are expected to be at least 20% lower than for the year ended August 31 2012. B&W Instrumentation and Electrical (BWI) advises that earnings per share and headline earnings per share are expected to be at least 20% lower than for the year ended August 31 2012.

B&W Instrumentation and Electrical (BWI) advises that earnings per share and headline earnings per share are expected to be at least 20% lower than for the year ended August 31 2012.

BWI said on Friday that a review of its financial results for the year ended August 31 by management had indicated that earnings per share and headline earnings per share were expected to be at least 20% lower than for the year ended August 31 2012.

A further trading statement would be released when there was more certainty on the earnings per share numbers.

“It has been a year of two halves for B&W. Although the write downs of the Madagascar accounts receivable amount in February 2013 are behind us‚ due to the magnitude of this amount‚ it has still negatively affected the year ended 31 August 2013 results. However‚ with the second half of the year being profitable‚ we remain confident of returning to profitability in the next financial period‚” the company said.

The company’s financial results are expected to be released on SENS on or about November 18.

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B&W Instrumentation and Electrical (BWI)
Nedbank Corporate and Investment Banking

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