Resurgent Grand Parade banks on whopping boost
Improved sales and profitability at Burger King help Grand Parade Investments return to profitability
Leisure and gaming company Grand Parade Investments (GPI) broke a two-year losing streak to return to profit in the year to end-June, with the company expecting a turnaround in Burger King to fuel further growth over the next few years.
The company reported that operating profit more than doubled to R44.2m to end-June, benefiting from improved sales and profitability at Burger King.
Headline earnings per share (HEPS) jumped 180% to 8.91c per share, with same-store Burger King sales rising 10.3%, the company said on Friday. GPI saw a loss per share of 11.18c in 2018, and 4.59c in 2017...