Hotel group The Don Group has forecast a turnaround in its operations for the six months to end-December 2004, with earnings and headline earnings per share (HEPS) expected in the range of 0.02 to 0.06 cents, the company said in a trading update.

This compares to a headline loss of 0.17 cents per share (R505,00) in the six months to end-December 2003, as well as a loss of 4.1 million rand or 1.39 cents per share and a headline loss of 3.4 million rand (1.14 cents per share) for the year ended June 30, 2004.

The Don Group said its turnaround was attributable, among other factors, to a marginal increase in revenue, tighter control of expenses and expanded guest facilities including restaurants.

The company expects to publish its interim results for the six months to end-December 2004 by no later than March 18.

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Publisher: I-Net Bridge
Source: I-Net Bridge