Investors in companies listed on the Johannesburg Stock Exchange will continue to receive headline earnings per share, but the closely watched figure will no longer form part of the audited IFRS financial statements.
The change allows Africa’s largest stock exchange to preserve one of South Africa’s most important corporate performance measures while complying with a new international accounting standard that takes effect in 2027.
Under amendments announced by the JSE on Wednesday, listed companies must still publish headline earnings per share, commonly known as HEPS, alongside their interim and annual results.
However, HEPS will be presented outside the financial information prepared under International Financial Reporting Standards.
The exchange is also removing compulsory disclosure of diluted HEPS and consolidating its rules for reconciling accounting profit with headline earnings.
