Business Report – Metair expects decline in earnings

Metair expects its headline earnings a share for the year to December to be between 9.68 percent and 7.26 percent lower than the 248 cents in the previous year.

 This equates to headline earnings a share for the reporting period of between 224c and said on Thursday that trading during the year started with a model change in the automotive components business and it experienced model launch challenges during the first half of the year.

 Metair said its energy business had a strong finish to the year as the Turkish and Romanian battery businesses experienced record production output for the year on the back of excellent last-quarter demand.

 The company said its automotive components business was expected to achieve low double-digit turnover growth and profit before interest and tax margins of between 5percent and 7percent for the full year.

Metair expects to release its annual financial results on March 23.

 By Roy Cokayne