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Trading Statement
CHOPPIES ENTERPRISES LIMITED
(Incorporated in the Republic of Botswana)
Registration number: BW00001142508
JSE SHARE CODE: CHP
BSE SHARE CODE: CHOPPIES
ISIN: BW0000001072
(“Choppies” or “Company”)
TRADING STATEMENT
In terms of the Listings Requirements of the Botswana Stock Exchange (“BSE”) and the JSE Limited (“JSE”), companies
are required to publish a trading statement as soon as they become reasonably certain that the financial results for
the period to be reported on next will differ by more than 10% (in the case of the BSE) or more than 20% (in the case
of the JSE) from the financial results reported for the previous corresponding period.
The group faced a demanding economic environment characterised by stubbornly high inflation, higher interest rates
and unemployment, all of which continue to constrain consumer spending with affordability limiting their ability to
digest higher prices. Sales volumes were lower in many categories, exacerbated by competitor discounting, with cost
pressures only partly recovered through higher prices.
Thirteen new stores were opened since the previous corresponding period, resulting in an increase in the cost base of
the group with the full potential of these stores only expected to be realised after the reporting period.
Choppies is currently finalising its financial results for the 6 months ended 31 December 2022 (“HY2023”) and expects
the HY2023 financial results to fall within the following ranges:
HY2023 HY2023 HY2023 HY2022
Expected
Expected decrease difference (BWP Expected range As reported (BWP
range (%) Millions) (BWP Millions) Millions)
Profit after tax (39%) - (29%) (42) - (32) 66 - 76 108
The HY2023 financial results will fall within the following thebe per share ranges:
HY2023 HY2023 HY2023 HY2022
Expected As
difference Expected reported
Expected decrease (thebe per range (thebe (thebe per
range % share) per share) share)
Basic earnings per share (37%) - (27%) (3.0) - (2.2) 5.0 - 5.8 8.0
Headline Earnings per share (39%) - (29%) (3.2) - (2.4) 4.9 - 5.7 8.1
The estimated financial information on which this trading statement is based has not been reviewed nor reported on
by the Company’s external auditors. Accordingly, shareholders are advised to exercise caution when trading in the
Company’s securities until such time as the actual results for HY2023 are released. The Company expects to release
its HY2023 financial results on or about 27 March 2023.
The Company’s primary listing is on the BSE and its secondary listing is on the JSE.
22 February 2023
BSE Sponsoring Broker JSE Sponsor
Stockbrokers Botswana Limited PSG Capital
Date: 22-02-2023 09:30:00
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