Niveus Investments Limited provided earnings guidance for the year ended March 31, 2016. For the year, the company will report attributable earnings per share of between 31.0 cents and 44.8 cents, being a decrease of between 35.1% and 55.1%, and report headline earnings per share of between 51.4 cents and 65.8 cents, being a decrease of between 9.1% and 29.0%, compared to attributable earnings per share of 69.0 cents and headline earnings per share of 72.4 cents reported for the year ended 31 March 2015. The anticipated decline in earnings is mainly due to a ZAR 45 million settlement fee paid to Johnnic Holdings Management Services Limited in terms of the corporate action approved by shareholders at the general meeting held on 9 September 2015 and attributable foreign exchange losses of ZAR 23 million incurred by KWV Holdings Limited on its forward hedge book.