BRIEF-Alexander Forbes Sees HY HEPS Between 16.0 & 17.2 Cents; Terminates Contract For IT Modernisation Programme

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BRIEF-Alexander Forbes Sees HY HEPS Between 16.0 & 17.2 Cents; Terminates Contract For IT Modernisation Programme
Credit: © Reuters.

Nov 23 (Reuters) - Alexander Forbes Group Holdings Ltd AFHJ.J :

* HEPS EXPECTED TO BE BETWEEN 16.0 AND 17.2 CENTS PER SHARE FOR SIX MONTHS ENDED 30 SEPTEMBER 2018

* HY EPS EXPECTED TO DECREASE TO A LOSS OF BETWEEN 3.5 AND 4.5 CENTS PER SHARE

* DECIDED TO TERMINATE CONTRACT WITH PRIMARY IMPLEMENTATION PARTNER FOR IT MODERNISATION PROGRAMME

* AS A RESULT OF TERMINATION, GROUP WILL IMPAIR SOFTWARE DEVELOPMENT ASSETS OF R287 MILLION

* INCURRED ONE-OFF OPERATING EXPENSES RELATING TO TERMINATION OF CONTRACT AMOUNTING TO R52 MILLION

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