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Reviewed Provisional Condensed Consolidated Results For The Year Ended 31 March 2020
CSG HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2006/011359/06)
Share code: CSG
ISIN: ZAE000184438
(“CSG” or “the Company”)
REVIEWED PROVISIONAL CONDENSED CONSOLIDATED RESULTS FOR THE YEAR
ENDED 31 MARCH 2020
1. SALIENT FEATURES
• Revenue from continuing operations decreased by 12% from R1,99 billion in the prior
corresponding period to R1,75 billion.
• The basic loss per share improved to a loss of 15,52 cents per share, compared to a
loss of 28,61 cents per share reported for the prior year, mainly as a result of the
recognition of a smaller impairment of goodwill in 2020 relating to the Covid-19
pandemic, in comparison to the impairment of R200 million recorded in the prior year
relating to the poor performance of the Security and Risk Solution division.
• Headline earnings per share deteriorated from 4,99 cents per share to a loss of 8,69
cents per share due to weaker performance across all three divisions, worsened by
the poor performance of 7Arrows and Revert Risk Management in the Security and
Risk Solutions division and the accounting of additional future credit losses resulting
from the COVID-19 pandemic.
• Cash generated by operations increased by 79% to R133,58 million
The CSG’s group performance reflected a combination of the current challenging business
environment worsened by the impact of the Covid-19 pandemic (accounting of future credit
losses and impairments). Performance of the Security and Risk Solutions division remained a
challenge. Cash generated and cash conversions remain positive.
As noted in the SENS dated 26 June 2020, shareholders were advised that, the Company,
through its wholly-owned subsidiary, 7 Arrows Security Proprietary Limited (“7 Arrows”),
entered into an agreement with Fidelity ADT Monitoring Proprietary Limited, in terms of which
the Company will sell a certain specified part of the armed response and monitoring business
of 7 Arrows, and a certain specified part of the residential guarding business of 7 Arrows for a
disposal consideration of R65,850,000 (sixty-five million eighty hundred and fifty thousand
Rand), which consideration is subject to adjustment as set out in the full announcement.
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/2020/JSE/ISSE/CSG/CSGFY20.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.
This short-form announcement has been based on the financial results for the year ended
31 March 2020, which have been reviewed by the Company’s auditors BDO South Africa
Incorporated, who expressed an unmodified review conclusion thereon.
1 July 2020
Sponsor
PSG Capital
Date: 01-07-2020 02:00:00
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