The share price of JSE-listed Basil Read dropped by 6% on Tuesday, after the construction company said that it expected to report significantly lower interim earnings.
The group said headline earnings a share would be between 25% and 35% lower in the interim period ended June 30, compared with the previously reported corresponding period.
Earnings a share could fall by 20% to 30%, the company stated.
Basil Read's share price fell by 6,2% on the news, to a low of R11,63 a share following the release of the trading statement.
By 15:45, shares were trading at R11,80 a share.
Basil Read would publish its results on August 31.
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