South Ocean Holdings Limited provided earnings guidance for the year ending December 31, 2012. For the year, the company expects headline earnings per share to be between 20% to 30% higher than for the corresponding prior year and earnings per share is expected to be between 100 cents to 110 cents lower than for the corresponding prior year.
The decrease in earnings relates to an impairment charge to goodwill arising on the acquisition of the Radiant Group in 2007.