Libstar expects earnings drop despite strategic progress in 2024

Libstar Holdings expects lower total headline earnings per share (HEPS) of between 40.9 and 43.3 cents, down from 47.7 cents year-on-year. Total EPS will drop to a loss of -53.0 cents to -55.0 cents per share, compared to the prior year's EPS of 38.0 cents per share. Normalised HEPS are expected to decrease by between 4.9% and 8.1%. The decrease in earnings is mainly attributable to the receipt of insurance proceeds in the prior year. The group did show progress in its simplification, growth, and sustainability strategy and raised R53 million from the disposal of Chet Chemicals. Normalised EBITDA is expected to be between R964.4 million and R983.9 million, with the weighted average number of shares remaining unchanged.