WG Wearne expects to widen FY17 losses

Construction materials producerWG Wearne expects to have widened its losses for the financial year ended February 28.

The company on Thursday said it expected its results to reflect a basic loss a share of between 7.3c and 8.9c, compared with a basic loss a share of 6.52c for the prior financial year.

This would equate to a 12% to 37% year-on-year widening in the loss a share.

WG Wearne also anticipated that its headline loss a share would be between 14c and 15.5c, which equates to a widening of more than 100% on the headline loss a share of 6.52c in the 2016 financial year.