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S. Africa's Distribution and Warehousing sees bigger loss

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12/07/2018 | 12:35pm CET

(Reuters) - South Africa's Distribution and Warehousing Network Ltd said it expects to report a bigger first-half headline loss per share, as it battles tough trading conditions amid wider economic challenges.

The company, which makes hardware, sanitary ware, plumbing, kitchen and engineering products, has seen sales pressured due to economic difficulties and said in August that it would cut 700 jobs under a restructuring plan to cut costs.

Its headline loss per share would widen between 174 percent and 188 percent to between 37.6 cents and 39.5 cents for the six months ended Sept. 30, the company said.

Headline earnings is the main profit measure in South Africa and strips out certain one-off items.

(Reporting by Tanishaa Nadkar and Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr)

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