Bell Equipment expects at least 70% decrease in earnings

JSE-listed Bell Equipment expects its earnings per share (EPS) and headline earnings per share (HEPS) for the year ended December 31, to be at least 70% lower than the EPS and HEPS of 283c and 278c, respectively, reported for the 2018 financial year. The expected decrease in earnings is mainly owed the International Financial Reporting Standards 2 Share-based payment charge relating to the black economic empowerment transaction announced in December; a slow-down in market demand and strong pricing competition in the markets in which the group is active, especially in South Africa, in the second half of 2019; and high interest costs on higher than planned inventory levels.