South Africa's Rare slumps, FY losses widens

Tuesday, 27 September 2011 13:48

Posted by Syed Murtaza Gheblehzadeh

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JOHANNESBURG: Shares of Rare Holdings dive nearly 20 percent as the South African construction materials supplier says its full-year headline loss likely widened to as much as 60.9 cents per share from 32.11 cents a year earlier.

Rare, which released the profit warning shortly after the market closed on Monday, is down 19.05 percent at 17 cents.