Further trading statement for the year ended 29 February 2020
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR & ISIN: ZAE000000139
(“Adcorp” or “the Group“)
FURTHER TRADING STATEMENT FOR THE YEAR ENDED 29 FEBRUARY 2020
Shareholders are referred to the announcement released on SENS on 8 May 2020 which included a trading statement (“Initial Trading Statement”) and are advised that, following further finalisation of its results for the year ended 29 February 2020 and a comprehensive review of the impact that COVID-19 has had on key judgements, Adcorp can confirm:
- Operating profit will remain within the range disclosed in the Initial Trading Statement.
- Total basic earnings per share will remain within the range disclosed in the Initial Trading Statement.
- Headline loss per share of between 5.4 cents and 6.4 cents compared to headline earnings per share of 245.0 cents for the year ended 28 February 2019.
Furthermore, Adcorp will proceed to issue its provisional annual financial statements on or about 29 June 2020 and its integrated annual report, incorporating the final annual financial statements and the notice of an annual general meeting, by no later than 31 July 2020.
The results will be presented via webcast in light of the COVID-19 outbreak.
The financial information on which this trading statement is based has not been reviewed, or reported on, by the Group’s external auditors.
10 June 2020
Sandton
Sponsor: Nedbank Corporate & Investment Banking, a division of Nedbank Limited