Aspen released a trading update this morning, and it looks good. Here is the complete announcement, just so I do not leave anything out: "Aspen shareholders are hereby advised that earnings per share, for the 6 months ended 31 December 2011, are expected to exceed those reported in the comparative period, ended 31 December 2010, by 24% to 30%." Nice! They continue to say that there is a discrepancy between EPS and HEPS, as a result of disposals of discontinued businesses and products.
Operationally, "Headline earnings per share and diluted normalised headline earnings per share from continuing operations, adjusted for transaction and restructure costs are both expected to exceed those of the comparative period by 17% to 23%." At this time last year, for the corresponding half HEPS was 265.3 cents per share. And increase at the bottom end of the range would translate to 310 cents per share and at the top end of the range 326 cents per share, go in the middle, 318 cents. The stock is currently off their best levels of 105 ZAR a share, but is still up two thirds of a percent. Full results are anticipated on the 7th of March, as ever, we will take a closer look and report back. But it looks more than decent, and perhaps more than Mr. Market anticipated.