Omnia shares soar on higher earnings forecast

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The stock’s price has been down 48.7% since the beginning of 2019

The listed fertiliser maker expects headline earnings per share in the six months to end-September to rise as much as 138%Shares in chemical and fertiliser maker Omnia Holdings soared nearly 10% to close at R30.14 on Tuesday, its best performance in nearly three months, after it reported that it expected its interim headline earnings would increase more than twofold.

The company’s shares initially rose more than 20% to R33.13 in early trade on Tuesday, shortly after the announcement of an expected increase in headline earnings of as much as 138% for the six months ended September 2019.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

 

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