Grand Parade’s big name investments still not paying their way
Grand Parade has not managed to recoup its investment in the local rights for US chains Burger King, Dunkin’ Donuts and Baskin-Robbins yet. But the investment holding company’s casinos managed to more than pay for the losses from its fast food outlets, helping its overall headline earnings grow nearly fourfold to R13.7m for the six months to end-December from R3.7m in the matching period. The investment holding company’s interim results released at 5.25pm on Thursday listed Burger King as contributing a R5.7m interim headline loss, a 32% improvement from the R8.4m loss it contributed in the matching period. But Dunkin’ Donuts widened its headline loss contribution by 25% to R11m from R8.7m, and Baskin-Robbins widened its headline loss contribution by 33% to R6.7m. The losses from its food outlets were offset by SunWest casino increasing its headline earnings contribution by 14% to R43m, Sun Slots increasing its headline earnings contribution 19% to R20m, and Worcester Casino increas...
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