City Lodge expects normalised FY HEPS between 8% and 13% higher

Posted On Wednesday, 06 August 2014 09:08 Published by
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City Lodge says it expects full-year normalised diluted headline earnings per share to be between 8% and 13% higher than in 2013.

Clifford Ross City Lodge Hotels

Hotel group City Lodge (CLH) said on Tuesday it expects full-year normalised diluted headline earnings per share (HEPS) to be between 8% and 13% higher than in 2013.

The increase in earnings excludes a R45m gain from taking full ownership of the Fairview Hotel and the Country Lodge in Nairobi as well as the costs of the black economic empowerment (BEE) deal completed almost six years ago.

The results for the year ended June 30 are scheduled for release on August 15. At 10.33am‚ the stock was up 1.36% at R119.40‚ valuing the hotel chain at R5.1bn.

Last modified on Wednesday, 06 August 2014 09:31

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