DAMAGE caused to Masonite’s Escourt mill by an explosion in June has severely dented the earnings of the listed softboard and hardboard producer in the year to December.
Masonite said it expected to report a headline loss a share of between 77c and 92c compared with the headline earnings a share of 500c in the previous year. The basic loss a share for the same period was expected to be between 68c and 81c compared with basic earnings a share of 501c. Masonite said the large decrease in earnings a share was largely attributable to the explosion and the finalisation of the business interruption insurance claim. The company said in September the estimated loss of earnings impact caused by the explosion was between R65 million and R75m. Shares in Masonite were untraded on Monday at R30. – Roy Cokayne