Group Five expects its full-year headline loss to be higher than initially indicated. In an updated trading statement on Monday, the construction and engineering group said its headline loss a share in the year to June would be between R8 and R8.70, from a previous guidance of R5.90. The loss had increased from the previous estimate mainly as a result of a "more conservative approach adopted on the tax treatment of a transaction", the company said in a statement. The small-cap company recently underwent a major shakeup, after its board was reconstituted at the insistence of shareholder Allan Gray. Group Five and a few other construction and engineering stocks have done poorly on the market in recent years. Group Five’s shares were 0.40% higher at the JSE’s close, at R14.92, valuing the company at about R1.67bn. In 2014, the stock was trading at around R45.
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