Resurgent Grand Parade banks on whopping boost

Business

Resurgent Grand Parade banks on whopping boost

Improved sales and profitability at Burger King help Grand Parade Investments return to profitability

Karl Gernetzky

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...

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