City Lodge Hotels said Wednesday that its diluted and undiluted headline and basic earnings per share for the year ended June 2011, which include the costs and effects of the BEE deal, are anticipated to be more than 20% lower than the previous financial year.

Normalised headline earnings per share, which excludes the costs and effects of the BEE deal, are anticipated to be between 30% and 36% lower than the previous financial year, it said.

The company is set to release its results on or about 12 August.