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Trading Statement
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1973/007111/06)
(Share code: HCI & ISIN: ZAE000003257)
("HCI" or "the company")
TRADING STATEMENT
In terms of section 3.4 (b) of the JSE Limited Listings Requirements,
companies are required to publish a trading statement as soon as they are
reasonably certain that the financial results for the current reporting
period will be more than 20% different than that of the previous
corresponding period.
A reasonable degree of certainty exists that for the year ended 31 March
2021, the Company will report a basic loss per share of between 1 666.8 cents
and 2 585.0 cents, being a decrease in losses of between 63.7% and 43.7% as
compared to a basic loss per share of 4 591.5 cents for the prior year, and
headline earnings (profit) per share of between 224.9 cents and 351.1 cents,
being a decrease of between 82.2% and 72.2% as compared to headline earnings
per share of 1 263.2 cents for the prior year.
Basic losses per share in the current year include fair value adjustments to
investment properties and impairments to property, plant and equipment
recognised by Tsogo Sun Hotels (“Tsogo”). A loss on disposal has also been
recognised by the Group on deconsolidation of Tsogo following the dilution of
the Group’s interest during the general offer to shareholders of Hospitality
Property Fund concluded by Tsogo in the latter part of the financial year.
Furthermore, due to COVID-19 related measures enforced by government, the
Group’s gaming and hotel operations were unable to trade normally for
extended periods of time during the current financial year. While the
majority of the Group’s media and broadcasting, transport and coal mining
operations were able to trade during the whole year, these operations were
also affected negatively by the COVID-19 pandemic.
The above information has not been reviewed or reported on by the Company`s
auditors. The Company`s provisional results are expected to be published on
or about 27 May 2021.
Cape Town
24 May 2021
Sponsor:
Investec Bank Limited
Date: 24-05-2021 04:42:00
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