Mobile telecoms firm Vodacom said on Thursday that it expects headline earnings per share (HEPS) for the year ended March 31 2011 to be between 25% and 30% higher than 510c per share previously.
The group reminded shareholders that basic earnings per share in the prior year were impacted by net impairment charges of R3,4-billion. “Vodacom expects to recognise impairment losses of approximately R1,5-billion for the year ended March 31 2011, in relation to Gateway as a result of increased price competition and poorer trading trends,” it said.
The group said it expected EPS to be between 95% and 105% higher than 282c per share previously.
Vodacom expected to publish its results on May 16. — I-Net Bridge