JOHANNESBURG - Trencor's share price moved into positive territory on the JSE yesterday despite the group releasing a trading update in which it expects to report losses for the six months to the end of June.
The share price was up by more than 5%, even though the group said it expected to report a headline loss per share of between 125 cents and 155c a share.
However, the expected loss is way better than the 324.1c reported a year ago. An expected improvement in the results lifted the share price to R39.90, beating Wednesday’s closing price of R37.91.
Trencor is a holding company and its core business focus is owning, leasing, managing and trading marine containers.
“Despite strong improvements in container leasing market conditions, Trencor will be reporting losses for the six months to end June,” the group said. Trencor results are expected to be published on or before September 29.
- BUSINESS REPORT