Fin24

Brikor readies for losses

2010-05-26 14:50

Johannesburg – Brick manufacturer Brikor [JSE:BIK] on Wednesday advised that is expects a headline loss per share of between 7.8 cents and 9.2 cents for the year ended February 28 2010, from a headline loss of 3.9 cents previously.

The group also expects to report a basic loss per share of between 18.8 cents and 22 cents for the period, from a loss of 4.5 cents earlier.

"The company has continued to experience weaker trading conditions due to the global recession as well as a further slow-down in the residential building market.

"The directors have, however, implemented corrective measures and expect better trading conditions for the forthcoming year," Brikor said.  

The group expects to release its results by May 31.

- I-Net Bridge