Listed electronics company Reunert's earnings per share will leap in the first half of the year, after it sold its stake in Nokia Siemens Networks SA.
Last November, Reunert said it would sell its 40% stake in the local unit of Nokia Siemens Networks, because it was a passive shareholder. Reunert earned R793.5 million from the sale.
Yesterday, the company said the sale would result in earnings per share being between 105% and 115% higher. Headline earnings per share will be between 15% and 21% higher; and normalised headline earnings per share between 6% and 12% higher.
A year ago, the company reported flat revenue, at R5.1 billion, while basic earrings per share were 223.1c and headline earnings were 223c.
Reunert's results should be released on 17 May.
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