Africa-Press – South-Africa. CAPE TOWN – HOSKEN Consolidated Investments said yesterday it expected to report a basic loss per share of between 1666.8 cents and 2 585.0c for the year to March 31, representing a decrease in losses of between 63.7 and 43.7 percent compared to a basic loss per share for the prior year.
Headline earnings per share of between 224.9c and 351.1c were expected, a decrease of between 82.2 and 72.2 percent compared to headline earnings per share of 1 263.2c for the prior year, the group said in a trading statement.
The basic losses a share included fair value adjustments to investment properties and impairments to property, plant and equipment recognised by Tsogo Sun Hotels.
A loss on disposal was recognised on the deconsolidation of Tsogo following the dilution of the group’s interest during the general offer to shareholders of the Hospitality Property Fund concluded by Tsogo.
Furthermore, due to Covid-19-related measures enforced by the government, the gaming and hotel operations were unable to trade normally for extended periods during the financial year.
Although most of the media and broadcasting, transport and coal mining operations were able to trade during the whole year, these were also affected negatively by the Covid-19 pandemic.
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