{"id":234938,"date":"2025-03-18T12:11:29","date_gmt":"2025-03-18T12:11:29","guid":{"rendered":"https:\/\/www.ghanamma.com\/za\/2025\/03\/18\/remgros-share-price-surges-nearly-4-following-strong-earnings-forecast\/"},"modified":"2025-03-18T12:11:29","modified_gmt":"2025-03-18T12:11:29","slug":"remgros-share-price-surges-nearly-4-following-strong-earnings-forecast","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/za\/2025\/03\/18\/remgros-share-price-surges-nearly-4-following-strong-earnings-forecast\/","title":{"rendered":"Remgro's share price surges nearly 4% following strong earnings forecast"},"content":{"rendered":"

<\/p>\n

Remgro’s share price rose nearly 4% on Tuesday after it flagged a likely hike in headline earnings per share (Heps) of up to 43% for the six months ended December 31, 2024 on the back of stronger performances from its investee companies and prior-year adjustments as key drivers.<\/p>\n

By 1.12pm the share was up <\/span>3.79% at R154.82 on the JSE.<\/span><\/p>\n

The investment holding company, which plans to release its annual financial results on or about March 25, said Heps would likely range between 645 cents and 694c – an increase of between 33% and 43% from the prior comparative period.<\/p>\n

“The increase in headline earnings is driven by improved operational performances from the majority of Remgro’s investee companies, lower finance costs, as well as the negative impact of significant corporate actions in the comparative period,” it said.<\/p>\n

The restated Heps for the comparative period stems from an accounting correction at TotalEnergies Marketing South Africa (TotalEnergies), a Remgro investee. During the finalisation of TotalEnergies\u2019 annual financial statements for the year ended December 31, 2023, it emerged that the fair value of its disposal group, chiefly its stake in Natref, was initially miscalculated, Remgro said.<\/p>\n

This led to an overstated write-down of net assets, particularly Natref\u2019s stock, in TotalEnergies\u2019 results. Consequently, TotalEnergies\u2019 contribution to Remgro\u2019s earnings was understated. The adjustment boosts Remgro\u2019s Heps for that period from the previously reported 381c per share to 485c per share. <\/p>\n

BUSINESS REPORT<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Remgro’s share price rose nearly 4% on Tuesday after it flagged a likely hike in headline earnings per share (Heps) of up to 43% for the six months ended December 31, 2024 on the back of stronger performances from its investee companies and prior-year adjustments as key drivers. By 1.12pm the share was up 3.79% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-234938","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\nRemgro's share price surges nearly 4% following strong earnings forecast - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/za\/2025\/03\/18\/remgros-share-price-surges-nearly-4-following-strong-earnings-forecast\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remgro's share price surges nearly 4% following strong earnings forecast - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Remgro’s share price rose nearly 4% on Tuesday after it flagged a likely hike in headline earnings per share (Heps) of up to 43% for the six months ended December 31, 2024 on the back of stronger performances from its investee companies and prior-year adjustments as key drivers. 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