Adcorp shares jump on improved earnings

Shares of human resources firm Adcorp, which has operations in SA and Australia, surged on Friday after it reported a doubling of its headline earnings per share as it cut costs and exited poorly performing contracts.

The shares rose the most since December 30, up 13.40% to R5.50, after Adcorp said its headline earnings per share , a main profit measure in SA, is expected to increase by a minimum of 47.5c from the previous 34.2c — about a 139% increase. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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