Published: 18 July 2017

South Africa's explosives and specialty chemicals group AECI advised its shareholders that it expects to report a 30% to 35% increase in its headline earnings per share (HEPS) for the six months ended June 30.

Its HEPS are expected to be between 381c and 396c, compared with the 293c reported in the six months ended June 30, 2016 while its earnings per share (EPS) are also expected to rise by 30% to 35% to between 380c and 394c, compared with the 292c reported for the prior corresponding period.

AECI on Tuesday pointed out that its HEPS and EPS had been negatively affected by the settlement cost (non-cash) of AECI's post-retirement medical aid liability. The post-tax effect of this was R98 million, or 93cps.

The group's interim results will be published on July 26.
- Business Daily