Nictus Limited Projects 56%-76% EPS Surge for FY 2024

  • Nictus Limited anticipates a substantial EPS increase of 56%-76% for the fiscal year 2024.
  • The company also expects a significant rise in HEPS, projecting a 57%-77% increase.
  • Restatement of previous figures due to IFRS 17 adoption showcases compliance with international standards.

Nictus

Nictus Limited has released a trading statement for the fiscal year ended March 31, 2024. The company expects significant earnings growth. This announcement comes under the JSE Limited Listings Requirements, paragraph 3.4(b).

Earnings Per Share (EPS)

Nictus forecasts an EPS increase of between 56.02% and 76.02%. This equates to a range of 19.24 cents to 21.70 cents. For context, EPS for the year ending March 31, 2023, was 12.33 cents. The previous year’s figure has been restated following IFRS 17 adoption.

Headline Earnings Per Share (HEPS)

The company also anticipates a rise in HEPS between 57.43% and 77.43%. The projected range is 19.24 cents to 21.68 cents. This compares to the restated HEPS of 12.22 cents for the previous period.

Impact of IFRS 17 Adoption

Nictus has restated its financial results for the previous period due to IFRS 17. IFRS 17 pertains to insurance contracts. The detailed impact will be included in the full financial results. These results are expected to be published on June 28, 2024.

Detailed Financial Metrics

The table below summarizes the expected financial performance for the year ended March 31, 2024:

MetricFY 2023 (Restated)FY 2024 (Projected)Percentage Increase
EPS12.33 cents19.24 – 21.70 cents56.02% – 76.02%
HEPS12.22 cents19.24 – 21.68 cents57.43% – 77.43%

Market Reaction and Analysis

Market analysts are likely to view this positively. The substantial increase in EPS and HEPS suggests strong operational performance. Restatement due to IFRS 17 adoption demonstrates Nictus’s compliance with international standards.

Conclusion

Nictus Limited’s trading statement indicates robust financial health. The anticipated increases in EPS and HEPS are substantial. Shareholders and potential investors will likely await the detailed report with keen interest.


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