Zeder Investments Ltd. provided consolidated earnings guidance for the year ended February 28, 2018. For the period, the company expects recurring headline earnings per share will be between 27.2 cents and 28.0 cents, being between 34.3% and 36.2% lower than the 42.6 cents reported for the year ended February 28, 2017. Headline earnings per share will be between 24.4 cents and 25.2 cents, an increase compared to the headline loss per share of 47.5 cents reported for the year ended February 28, 2017. Attributable earnings per share will be between 14.4 cents and 15.2 cents, an increase compared to the attributable loss per share of 49.1 cents reported for the year ended February 28, 2017. Headline earnings per share increased mainly due to the once-off management fee internalisation charge of ZAR 1.45 billion to the income statement in the prior year. Attributable earnings per share increased by a smaller margin than headline earnings per share due to non-headline losses incurred in the current year, mainly as a result of the recognition of deferred tax on the transfer of an associate to equity securities.