Grand Parade Investments: Earnings up despite weak economy

Filomena Scalise

Filomena Scalise

Published Mar 17, 2016

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Johannesburg - Despite the weak local economy, which increased pressure on consumers, Grand Parade Investments (GPI) reported yesterday that in the six months to December basic earnings per share from continuing operations had increased by 157 percent to 5.67 cents per share.

During the period, the investment holding company established Grand Foods in line with its food strategy.

Profit rose by 150 percent to R24 million from continuing operations for the period from the R48.1m loss reported in the prior period. In the period, it opened 17 Burger King restaurants, increasing to a total of 61 restaurants as of December 31.

It also acquired the South African Master Franchise licence for leading global quick service restaurants brands Dunkin’ Donuts and Baskin-Robbins.

It acquired an additional 65 percent of Excellent Meat Burger Plant and 4.95 percent of Atlas Gaming.

The share price was unchanged at R3.55 at the close of the JSE yesterday.

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