A mixed bag of results for local Burger King bosses and Comair

2014-08-27 11:37

Grand Parade Investments, the company that brought Burger King to South Africa, will report an 80% to 90% drop in headline earnings for the year to June.

Its management thought adjusted earnings were a truer reflection of performance – these will be down by between 16% and 36%.

Grand Parade did not say why, but it could have something to do with the sale of SunWest and other casinos – which it said in March would have a positive effect on earnings but negative effect on headline earnings.

When it announced its half year results, it was all systems go for the full year. Grand Parade said at the time that “opportunities abound”.

Comair, on the other hand, said it expected earnings to be 20% to 25% up.

The company, which flies British Airways in South Africa and Kulula, did not elaborate. One can expect its results to reflect the benefits of its new fleet, which is giving it more capacity.

But Comair will also feel the pain from lower numbers of local passengers – there are about 5% fewer local flyers than a year ago – and higher fuel prices because of the weak rand.

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