BRIEF-Adcorp Posts HY HEPS Of 5.1 Cents

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BRIEF-Adcorp Posts HY HEPS Of 5.1 Cents

Oct 16 (Reuters) - Adcorp Holdings Ltd ADRJ.J :

* UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2019

* HY HEADLINE EARNINGS PER SHARE OF 5,1 CENTS COMPARED TO 88,3 CENTS PER SHARE IN PRIOR HALF YEAR PERIOD

* HY REVENUE FOR PERIOD DECREASED BY 10% TO R7 BILLION (H1 2018: R8 BILLION)

* HY LOSS PER SHARE OF 413,3 CENTS PER SHARE

* FINAL DIVIDEND OF R106 MILLION (RELATING TO FINANCIAL YEAR ENDED 28 FEBRUARY 2019) HAS BEEN PAID TO ALL SHAREHOLDERS ON 19 AUGUST 2019

* NO DIVIDEND HAS BEEN DECLARED FOR SIX-MONTHS PERIOD ENDED 31 AUGUST 2019 (2018: NIL)

* HY REVENUE IN FINANCIAL SERVICES UNIT NEGATIVELY IMPACTED BY REDUCTION OF TES HEADCOUNT WHICH AFFECTS EMPLOYEE BENEFITS BUSINESS

* SEEING A MARGINAL UPLIFT IN HEADCOUNT VOLUMES IN OUR LSA BUSINESS, DO NOT EXPECT A FULL RECOVERY IN CURRENT FINANCIAL YEAR

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