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Grand Parade Investments fiscal H1 loss widens YOY

Grand Parade Investments Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was a loss of 14 South African cents per share, compared with a loss of 6 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 69.2 million rand, compared with a loss of 28.2 million rand in the year-earlier period.

Total revenue climbed on an annual basis to 237.2 million rand from 48.1 million rand, and total operating expenses increased year over year to 339.6 million rand from 95.7 million rand.

Reported net income totaled a loss of 98.2 million rand, or a loss of 20 cents per share, compared to income of 19.0 million rand, or 4 cents per share, in the prior-year period.

As of Feb. 27, US$1 was equivalent to 11.66 rand.