Grand Parade more confident after gaming recovery and Burger King sale
The group has made a R413.6m payout to shareholders for the six months to end-December, when it cut its debt by R102m to a net R32m
Leisure and gaming company Grand Parade Investments (GPI), which gave investors a record record R413.6m special payout for its half-year to end-December, says it is confident about its future prospects after the sale of its Burger King business and a partial recovery of its gambling interests helped it slash its debt levels by 42%.
The empowerment group, which finalised the sale of its struggling Burger King SA and Grand Foods Meat Plant in November, said on Wednesday that it had cut its total debt by R102m to R140m in the six months to end-December, with the group having declared an 88c per share special dividend...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.