Vunani Limited Expects 63%-83% Drop in Earnings for FY 2024

  • Vunani Limited anticipates a significant decline in earnings for the fiscal year 2024, between 63% and 83%.
  • The company's basic earnings per share (EPS) are expected to range from 5.7 to 12.3 cents.
  • Vunani's headline earnings per share (HEPS) are forecasted to be between 5.0 and 11.0 cents.

Vunani Limited, a South African financial services company, issued a trading update on Wednesday. The company anticipates a significant drop in its earnings for the year ended February 29, 2024.

Earnings Overview

Vunani expects basic earnings per share (EPS) to be between 5.7 cents and 12.3 cents. This represents a decrease of 63% to 83% from the previous period. Last year, Vunani reported basic EPS of 33.0 cents.

The company also expects headline earnings per share (HEPS) to be between 5.0 cents and 11.0 cents. This marks a decline of 63% to 83% compared to the previous year’s 30.1 cents per share.

MetricFY 2024 ExpectedFY 2023 ActualChange (%)
Basic EPS5.7 – 12.3 cents33.0 cents-63% to -83%
Headline EPS5.0 – 11.0 cents30.1 cents-63% to -83%

Financial Performance

The company’s financial results for the year ended February 29, 2024, are still being finalized. The annual results are scheduled to be released on June 14, 2024.

Vunani has not yet disclosed the reasons behind the anticipated decline in earnings. The company’s auditors have not reviewed the financial information on which this trading update is based.

Impact on Shareholders

Shareholders should note that the significant decrease in EPS and HEPS could affect the company’s stock price. The anticipated decline in earnings suggests that Vunani faced challenges during the year.

Conclusion

Vunani Limited’s trading update reveals a significant drop in earnings for the year ended February 29, 2024. Shareholders and investors will be closely monitoring the release of the full-year results. The market reaction to the anticipated decline in earnings could impact Vunani’s stock performance.