Bonatla Property reports loss in earnings
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2014-07-02 11:22:00
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Bonatla Property (BNT) on Monday reported a 3.80c diluted loss per share from continuing operations for the year ended December from a loss of 0.75c in the previous period.
During the period under review‚ the operating costs increased by 41% and the cost of sales and financing costs decreased by 27% and 26% respectively. The company said the increase in the operating costs was mainly due to impairments of R24.7m.
The group incurred a R17.4m loss on the disposal of several subsidiaries which were either non-performing or were based on short term leases with overcapitalised rentals and non-sustainable operating cost structures.
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