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HOMECHOICE INTERNATIONAL PLC - Trading statement

Release Date: 12/02/2021 10:39
Code(s): HIL     PDF:  
Wrap Text
Trading statement

HomeChoice International plc
(Incorporated in the Republic of Mauritius)
(Registration number C171926)
Share code: HIL
ISIN: MT0000850108
("the Company" or "Group")

TRADING STATEMENT

The Covid-19 pandemic continues to have an adverse impact on the macro-economic environment and
consumer behaviour, which has resulted in challenging trading conditions for the Group in the second half of
the year. Tighter restrictions imposed by the South African government in response to the second wave of
the Covid-19 pandemic have further disrupted the Group’s business operations.

As reported in the announcement of the summarised Group financial results for the six months ended 30
June 2020 released on the Stock Exchange News Service ("SENS") on 31 August 2020, earnings per share
(EPS) and headline earnings per share (HEPS) for the six-month period ended 30 June 2020 were 54.6%
lower than the comparable period in the prior year. The Group is expecting to report a similar performance in
the second half of the year and is accordingly advising shareholders that EPS and HEPS for the twelve-
month period ended 31 December 2020 are expected to range between 144 cents to 209 cents, or between
52% and 67% lower than the 436.0 cents reported for both EPS and HEPS in the previous corresponding
period (the twelve month period ended 31 December 2019).

The Group’s liquidity and capital position continues to remain strong as a result of the focus on cash
generation and management of working capital, with cash on hand of R415 million, up from R378 million at
30 June 2020. The Group is conservatively capitalised to take advantage of any improvements in the
economy.

The Group’s financial results for the year ended 31 December 2020 will be released via SENS on or about
15 March 2021.

Any forecast or estimate financial information contained in this announcement has not been reviewed or
reported on by the Company’s external auditors.

On behalf of the Board
Republic of Mauritius

12 February 2021

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 12-02-2021 10:39:00
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