Remgro expects headline earnings to rise up to 43%

Remgro Limited (JSE:REM) has issued a trading statement forecasting a significant increase in headline earnings per share (HEPS) for the six months ended December 31, 2024. The company expects HEPS to be between 645 cents and 694 cents, a rise of between 33% and 43% compared to the restated 485 cents for the same period in 2023. This increase is attributed to improved operational performances from investee companies and lower finance costs. Remgro also restated its comparative HEPS for the prior period due to the incorrect accounting for a disposal group within TotalEnergies Marketing South Africa. The adjustment increases the previously reported HEPS from 381 cents to 485 cents per share. Full details are expected with the release of Remgro's results on or about March 25, 2025.