City Lodge says earnings to tumble more than 100%
The hotel group had all 55 of its hotels cease trading during the initial Covid-19 lockdown
24 July 2020 - 18:30
Hotel chain City Lodge has become the latest company to flag a dramatic hit to its balance sheet as a result of the coronavirus, with full-year normalised headline earnings expected to tumble as much as 132%.
The hotel group, which had all 55 of its hotels cease trading, said on Friday that it would report a normalised headline earnings loss of between R70.1m and R86.1m to R267.1m for the year to end-June 2020. ..
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