Rand Merchant Insurance Holdings Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Rand Merchant Insurance Holdings Ltd Announces Restatement Of Prior Period Comparative; Issues H2 2012 Earnings Guidance
Rand Merchant Insurance Holdings Ltd advised a change in accounting policy by a subsidiary in the second half of fiscal 2011, resulting in a restatement of prior period comparatives. Consequently, it is necessary for EPS, headline EPS and normalized EPS for the second half of 2011 to also be restated. As originally published on December 31, 2011 the Company reported earnings per share (EPS) of ZAR0.63, headline EPS0.619 and normalized EPS of ZAR 0.69. The Company restated on December 31, 2011 the second half of fiscal 2011 earnings as follows: earnings per share (EPS) of ZAR0.654, headline EPS0.643 and normalized EPS of ZAR 0.727. As compared to originally published December 31, 2011 results the Company announced the guidance for second half of 2012 and expects earnings per share (EPS) to increase 20% to 25%, headline EPS to increase 20% to 25% and normalized EPS to increase between 8% to 13% and as compared to restated December 31, 2011 results the Company expects earnings per share (EPS) to increase 15% to 20%, headline EPS to increase 15% to 20% and normalized EPS to increase between 2% to 7%.
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