Mvelaphanda Group has advised shareholders that headline earnings per ordinary share for the year ended June 30 2006 are expected to be up approximately 125% to between 315 cents per ordinary share and 325 cents per ordinary share from the previous comparable period.
The group also announced that earnings per ordinary share for the year ended June 30 2006 were expected to be up approximately 105% to between 265 cents per ordinary share and 275 cents per ordinary share.
“The reason for the increase in earnings per ordinary share and headline earnings per ordinary share is mainly due to the increase in the value of certain of Mvela Group’s major investments,” the company said in a trading statement.
Mvela Group has a range of investments in the financial services, healthcare, property, mining and resources, and general industrial sectors, and operates and controls a range of cash-generative services businesses. It has a 22,9% interest in investment and exploration company Mvelaphanda Resources.
Mvela Group’s results for the year ended 30 June 2006 are expected to be published on or about September 5 2006.
Mvela Group was last trading at R8,55, up 10 cents from a previous close of R8,45.
Mvelaphanda Resources was last at R35,45, unchanged from its previous close. – I-Net Bridge