Grand Parade gears up for results after cutting Dunkin Donuts loose | Fin24
 
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Grand Parade gears up for results after cutting Dunkin Donuts loose

Mar 13 2019 08:26
Fin24

Grand Parade Investment [JSE:GPL] has warned of an expected plunge in basic earning per share in the six months ended December 31, 2018, after it exited its poorly-performing assets Dunkin Donuts and Baskin Robbins.

The JSE-listed group said in February that it was parting ways with the two businesses as they have negatively impacted its cash resources.

"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," it said in a statement to shareholders on Thursday.

While basic earning per share are expected to fall sharply, headline earnings per share are expected to increase from 3.20 cents in the six months ended  2017 to between 3.43 and 4.07 cents at the end of 2018, according to unaudited projections.  

It will publish its half-year results around March 18. 

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