Tiso Blackstar expects full-year loss to widen
Tiso Blackstar Group, the publisher of the Business Day and Sunday Times newspapers, said on Tuesday it expects a significant loss for the year to June.
The group said headline loss per share would widen to between 46.96c and 50.49c compared with the headline loss of 29.43c per share in the previous period.
The group said the drop in earnings was mainly due to once-off costs such as impairments of assets, relocation costs for Hirt & Carter to a new facility and a write-off of its interest in steel company Robor.
Last week the competition authorities approved the sale of Tiso Blackstar’s media assets to Lebashe Investment Group.