Investment group PSG has warned it expects to swing into a headline loss in the six months to end-August amid pressure on the value of its investees. However, after accounting changes the results are not directly comparable.
PSG said in an update it expects a headline loss per share of between R14 and R14.30 for the six months to end-August, as opposed to headline earnings per share of R5.68 in the same period in 2019. In July PSG unbundled 26.4% of its 30.7% stake in Capitec, among other corporate actions. The group is required to publish a trading statement should headline earnings per share deviate more than 15%, notwithstanding the change in its accounting policy.
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