Value Group: Interim profit set to fall up to 90%

VALUE Group blamed the sluggish economy yesterday for an anticipated poor financial performance in the six months to August. The logistics company said trading conditions during this period had been extremely challenging and advised shareholders that basic and headline earnings a share would be between 70 percent and 90 percent lower than in the previous corresponding period, when earnings a share were 25.4c and headline earnings a share were 26.4c. Value Group expects to publish its interim financial results on October 14. Value Group lost 4.82 percent to close at R4.74 yesterday. – Roy Cokayne