CSG HOLDINGS LIMITED - Unaudited Condensed Consolidated Interim Results For The Period Ended 30 September 2019

Unaudited Condensed Consolidated Interim Results For The Period Ended 30 September 2019

CSG HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2006/011359/06)
Share code: CSG
ISIN: ZAE000184438
(“CSG” or “the Company”)

UNAUDITED CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE PERIOD
ENDED 30 SEPTEMBER 2019

1.   SALIENT FEATURES

     Revenue decreased by 13% to R988 million, from R1,132 million in the prior
     corresponding period.

     Headline losses per share decreased to 5.27 cents per share, compared to headline
     earnings per share of 9.19 cents reported in the prior comparative period.

     Basic losses per share decreased to 5.33 cents per share, compared to the basic earnings
     per share of 9.26 cents reported for the comparative period.

     CSG had a disappointing six months across all three divisions due to the prevailing
     challenging business environment and worsened by the level of under performance of
     security companies, 7 Arrows and Revert, which incurred a loss of R46.37 million for the
     six months. After the initial indication of underperformance towards the end of the previous
     financial year from these two businesses, CSG commenced an in-depth operational
     review, which revealed the underperformance was worse than anticipated and as a result
     immediate action was taken to rationalise and consolidate these businesses, which
     included retrenchments across the board. A new Security CEO was recruited from the
     industry and appointed for this division effective 1 August 2019, and with his assistance
     CSG believe the aggressive turnaround plan will deliver the necessary results.

2.   SHORT-FORM ANNOUNCEMENT

     This short-form announcement is the responsibility of the directors of the Company. It
     contains only a summary of the information in the full announcement (“Full
     Announcement”) and does not contain full or complete details. The Full Announcement
     can be found at:
     https://senspdf.jse.co.za/documents/2019/JSE/ISSE/CSG/CSGHY20.pdf

     Copies of the Full Announcement is also available for viewing on the Company’s website
     at https://csgholdings.co.za/investor-relations/ or may be requested in person, at the
     Company’s registered office or the office of the sponsor, at no charge, during office hours.

     Any investment decisions by investors and/or shareholders should be based on
     consideration of the Full Announcement, as a whole.

22 November 2019

Sponsor

PSG Capital

Date: 22/11/2019 12:00:00
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