October 12, 2016 / 5:15 AM / a year ago

BRIEF-Verimark H1 HEPS 2.2 cents vs loss of 3.6 cents per share

Oct 12 (Reuters) - Verimark Holdings Limited

* Unaudited Condensed Consolidated Interim Results For The Six Months Ended 31 August 2016

* Revenue from continuing operations up 0.5 pct to r184.4 million for 6 months ended Aug 31 (2015: r183.5 million)

* Headline earnings per share for 6 months ended Aug 31 2.2 cents per share (2015: loss of 3.6 cents per share)

* Basic earnings per share (“Eps”) for 6 months ended Aug 31 at 2.2 cents per share (2015: loss of 3.7 cents per share)

* Net asset value per share for 6 months ended Aug 31 at 117.7 cents per share (2015: 107.6 cents per share)

* As a result of ongoing depreciation of rand against us dollar, it became necessary for Verimark to increase selling prices in mid-February 2016

* Board has considered it prudent not to declare a dividend

* Declining business confidence in South Africa is expected to continue beyond 2016

* Given economic challenges and uncertainty around rand exchange rate, verimark is exploring a number of diversification strategies locally, as well as internationally

* Also testing sourcing of locally produced products Source text for Eikon: Further company coverage:

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