City Lodge expects normalised FY HEPS between 8% and 13% higher
2014-08-05 · Industrial Developments news
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.
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