June 30, 2020 / 5:34 AM / 15 days ago

BRIEF-Barloworld Says HY HEPS Of 268.4 Cents

June 30 (Reuters) - Barloworld Ltd:

* PRELIMINARY RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2020

* HY REVENUE R25.2BN DOWN 12.2%

* HY HEADLINE EARNINGS PER SHARE OF 268.4 CENTS (1H’19: 476.0 CENTS)

* HY BASIC LOSS PER SHARE OF 729.7 CENTS

* HY GROUP NORMALISED HEADLINE EARNINGS PER SHARE OF 354.0 CENTS

* EXPECTS AVERAGE CONSUMER TO REMAIN UNDER PRESSURE, WHILE TRADING ENVIRONMENT WILL BE IMPACTED BY LOWER OUTLOOK FOR RECOVERY AND GROWTH

* HY GROUP NORMALISED HEADLINE EARNINGS PER SHARE OF 354.0 CENTS

* AT END OF 31 MARCH 2020, GROUP’S GEARING LEVELS REMAINED LOW

* OUR FINANCIAL POSITION WAS WELL WITHIN OUR COVENANTS

* NOT TO DECLARE A DIVIDEND PAYMENT FOR SIX MONTHS ENDED 31 MARCH 2020

* AUTOMOTIVE AND LOGISTICS DIVISION’S PERFORMANCE IS EXPECTED TO BE SIGNIFICANTLY BELOW 2019 IN SHORT TERM

* IN APPROXIMATELY 20% - 25% GROUP HEADCOUNT REDUCTION WITH AUTOMOTIVE AND LOGISTICS, IN PARTICULAR CAR RENTAL MOSTLY AFFECTED

* TRADING IN EQUIPMENT BUSINESSES WILL BE AFFECTED BY A VARIETY OF FACTORS

* ENVIRONMENT IN RUSSIA EXPECTED TO CONTINUE ON ITS CURRENT TRAJECTORY WITH MINING SECTOR AND COMMODITY OUTLOOK EXPECTED TO REMAIN STABLE Source text for Eikon: Further company coverage:

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