Grand Parade Investments (GPL) advised that a reasonable degree of certainty exists that basic earnings per share for the six months ended December 2012 will be between 60% and 70% lower than the 38.57 cents per share of the previous corresponding period and headline earnings per share will be between 25% and 35% lower than the 19.87 cents per share of the previous corresponding period.

“It is important to note that the comparisons with the prior period include the effects of the transaction concluded with Sun International Limited on 2 December 2011‚ which resulted in once off gains of no less than R128.1 million in the previous comparable period. These once-off gains include profit from the disposal of investments‚ realisation of fair value gains relating to disposed investments and net cancellation fee income from the restructure of the SunWest (Pty) Ltd operating management agreement‚” the company said.

In this context management considers adjusted HEPS as a more meaningful measure of performance as it adjusts for the effects of these once off gains.

Adjusted HEPS is expected to be 8% to 18% higher than the 14.12 cents per share of the previous corresponding period. GPI’s results are expected to be published on or about 27 February 2013.

Grand Parade Investments is a major player in the South African tourism, leisure and gaming industry.