JOHANNESBURG – Grand Parade Investments (GPI) said on Wednesday it expected a basic loss per share of between 7.94 and 8.52 cents for the six months ended December 31, down 372-392 percent from basic earnings per share of 2.92 cents in 2017.
Last month GPI said it was exiting poor performing assets Dunkin Donuts and Baskin Robbins as part of a value based strategy aimed at improving the group’s capital allocation.
"The decrease in the basic earnings per share is due to the impairment of Dunkin’ Donuts and Baskin-Robbins, which was liquidated subsequent to 31 December 2018 and is reported as part of discontinued operations," the company said in a trading statement on Wednesday.
However interim headline earnings per share, the main measure of profitability in South Africa which exclude income relating to staff reductions, sales of assets, or accounting write-downs, are expected to edge up to between 3.43 and 4.07 cents, a 7.2 percent to 27.2 percent increase from 3.20 cents during the same period in 2017.