JASCO ELECTRONICS HOLDINGS LIMITED - Trading Statement

Trading Statement

JASCO ELECTRONICS HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration Number 1987/003293/06
Share code: JSC     ISIN: ZAE000003794
(“Jasco” or “the company” or “the group”)

TRADING STATEMENT

Jasco’s operations continued to experience tough conditions for
the six months to 31 December 2022, with a number of external
factors exacerbating the internal challenges.
In these conditions, Jasco continued to implement corrective
actions. These included:
• Continued tight cost control throughout the group;
• Excellent working capital management in all divisions; and
• Securing a healthy order book with orders on hand of R232,9
million at 31 December 2022 compared to R147,4 million at 30
June 2022.
To assist the group implement the corrective actions, Community
Investment Holdings (CIH) purchased the Midrand head office
property in July 2022 and CIH granted a 12-month lease payment
holiday in September 2022.
Jasco placed its subsidiary, MV Fire Protection Services
Proprietary Limited (representing the Security & Fire Solutions
division), in voluntary liquidation on 17 October 2022.
Shareholders are reminded also of the disposals of Property
Solutions and Property Technology Management in the previous
financial year, which are disclosed as discontinued operations.
Although there were no disposals during the current period,
continuing and total results are provided to enable a like-for-
like comparison.
Accordingly, shareholders are advised that for the six months
ended 31 December 2022, the company expects:
•   An earnings per share (“EPS”) loss from continuing operations
    of between 6.7 and 6.5 cents per share compared to the 1.7
    cents profit per share for the previous corresponding period
    (an expected decrease in excess of 100%).
•   A headline earnings per share (“HEPS”) loss from continuing
    operations of between 6.5 and 6.3 cents per share compared
    to the 1.7 cents profit per share for the previous
    corresponding period (an expected decrease in excess of
    100%).
•   An earnings per share (“EPS”) loss from total operations of
    between a loss of 7.5 and 7.3 cents per share compared to
    the 0.1 cents profit per share for the previous corresponding
    period (an expected decrease in excess of 100%).
•   A headline earnings per share (“HEPS”) loss from total
    operations of between a loss of 8.8 and 8.6 cents per share
    compared to the 0.1 cents profit per share for the previous
    corresponding period (an expected decrease in excess of
    100%).
The weighted average number of shares in issue for the period
increased to 362 571 654 shares following the rights issue in
February 2022 (Dec 2021: 224 446 129 shares).
The information in this trading statement has not been reviewed
or reported on by the company’s external auditors.

Jasco’s financial results for the six months ended 31 December
2022 will be announced on or about 21 February 2023.


Midrand
20 February 2023


Sponsor
Grindrod Bank Limited

Date: 20-02-2023 03:00:00
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