Adcorp shares jump on improved earnings

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Headline earnings per share double on cost cuts and exit of poorly performing contracts

Shares of human resources firm Adcorp, which has operations in SA and Australia, surged on Friday after it reported a doubling of its headline earnings per share as it cut costs and exited poorly performing contracts.

The shares rose the most since December 30, up 13.40% to R5.50, after Adcorp said its headline earnings per share , a main profit measure in SA, is expected to increase by a minimum of 47.5c from the previous 34.2c — about a 139% increase. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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