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LOWER EARNINGS FORCE SHARES DOWN

09 Nov General

Interim headline earnings at Hosken Consolidated Investments (HCI) fell 16 percent in the six months to September, the investment holding company reported on Friday. HCI, which controls leisure firm Johnnie Holdings and has a majority stake in commercial broadcaster e.tv, said revenue for the six months to September rose 35.3 percent year on year to R4.16 billion. The company said revenue had mainly been boosted by the consolidation of Seardel into its operations in the second half of its 2009 financial year. Its shares closed 1.1 percent lower at R68.15 on Friday.

Source: Business Report – Reuters