Adcorp Holdings Limited provided earnings guidance for the year ended 29 February 2016. The company expects headline earnings per share to increase by 0% to 2% compared to the corresponding year. HEPS are therefore expected to be between 298 cents and 304 cents per share compared to 298.5 cents in the corresponding year. Earnings per share are expected to decrease by 17% to 19% compared to the corresponding year. EPS are therefore expected to be between 191 cents and 196 cents per share compared to 236.5 cents in the corresponding year. The decrease in EPS is primarily due to the recognition of impairments of goodwill, loss on sale of business and an impairment of an investment held for sale. Normalised earnings per share ("NEPS") for the year ended 29 February 2016 are expected to increase by 4% to 6% compared to the corresponding year. NEPS is therefore expected to be between 365 cents and 372 cents per share compared to 350.7 cents in the corresponding year. The basis of calculating NEPS have been modified compared to the basis of calculation applied in the prior year whereby normalised earnings have been adjusted to include net share based payment expenses and business establishment costs. Had the same basis been applied in calculating NEPS as was applied in the prior financial year, NEPS are expected to decrease by 16% to 18% compared to the corresponding year. As a result, NEPS are expected to be between 358 cents and 367 cents, compared to 436.8 cents in the corresponding year if applied on the same basis as the prior year.