Wearne rallies on smaller loss

Published May 25, 2015

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WG WEARNE

expected to report a smaller annual loss, the financially troubled AltX-listed ready-mixed concrete and aggregates supplier announced last week. The news of the reduced loss caused Wearne’s shares on the JSE to climb by 37.5 percent to 11c, the stock’s highest level since December 9. The company anticipates reporting a reduced headline loss a share of between 2.6 cents and 3c in the year to February from the 6.07c loss in the previous year. That equates to a reduction in the headline loss a share of between 50 percent and 57 percent for the reporting period. Its basic loss a share for the same period is expected to be reduced to between 2c and 2.4c from 3.69c. The company expects to publish its annual financial results by the end of this week. – Roy Cokayne

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