Business Report noted that shares in Bell closed at a three-year high on expectations that the company's earnings will surge for the year to December 2011. Bell's shares were up 5% to close at R21.00 on Thursday, 19 January 2011. The jump was a sixth day of gains for Bell and the highest price that Bell's shares have closed at since October 2008. Hugan Chetty of Afrifocus Securities believes that adjusted earnings a share for 2011 were expected to increase from 0.27c to 2.48c.

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