Company announcements

Barclays Group Africa Ltd

Analysis of upcoming company announcements, using our market insight information and analysis tools.

For this edition, we cover the following stocks:

Kumba Iron Ore Ltd

Woolworths Holdings Ltd

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Economic catalysts

Barclays Group Africa Ltd

Full year earnings for 2013 expected 11 February 2014 

Barclays Group Africa offers a comprehensive range of banking services, bancassurance and wealth management products and services.

Results expectation

Barclays Group Africa is expected to release full year results for 2013 on 11 February 2014.

Forward guidance released via the Stock Exchange News Service (SENS), highlights that the company is expecting 19% to 20% earnings per share growth over the period, while the diluted headline earnings per share is expected to be 13% to 14% higher.

It should be considered that the headline earnings growth is from a low base, as the 2012 comparative was a year where the company reported a 63% increase in credit impairments from retail mortgages and commercial property finance in Retail and Business Banking (RBB). When compared to 2011 earnings, headline earnings per share appear to have only grown around 3% over the two year period.

We have witnessed significant weakness in banking counters post the interest rate increase on 29 January 2014. Investors will be looking at the level of credit impairments for Barclays Group Africa in the full year 2013 results and the possible effects on debtors should interest rates continue to rise. 

Source: IG Insight, as of 16:37 06/02/2014

Source: IG Insight, as of 16:38 06/02/2014

Technical View

The price of Barclays has broken out of a triangle formation and looks to be continuing the preceding downtrend.

The height of the triangle formation projected from the breakout level predicts a target at 11850, while the price closing back above the 13020 level would indicate the failure thereof. 

Source: ProRealTime Charts, as of 06/02/2014

Fundamentals

Source: IG Insight, as of 16:45 06/02/2014

Source: IG Insight, as of 16:47 06/02/2014

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