LUXE HOLDINGS LIMITED - Short-Form Announcement: Results For The Full Year Ended 28 February 2021

Short-Form Announcement: Results For The Full Year Ended 28 February 2021

LUXE HOLDINGS LIMITED
(Previously Taste Holdings Limited)
Incorporated in the Republic of South Africa
(Registration number: 2000/002239/06)
Share code: LUX
ISIN Code: ZAE000286035
(“Luxe” or “the Company”)


SHORT-FORM ANNOUNCEMENT: RESULTS FOR THE FULL YEAR ENDED 28
FEBRUARY 2021


1.   HIGHLIGHTS

     Online sales growth of 236% (+174% on a comparable basis).

     Positive same store sales growth of +1% in the 2nd half of the financial year.

     Retail stores gross profit % increased from 41.1% to 44.0%.

     Luxe’s Jewellery and Watch Division’s operating profit improved by 38% to R16.9 million
     (2020: R12.2million); a strong recovery in the 2nd half resulted in operating profit
     improving R22.6 million from an operating loss of R5.7 million at half year to a full year
     operating profit of R16.9 million.

     Prudent management of costs and working capital, specifically inventory and creditors,
     helped to generate cash from continuing operations of R8.3 million and improve the
     positive cash position of the continuing operations to R19.7 million (2020: R13.0 million).

     Headline loss per share of 80.3 cents, an improvement from the headline loss per share
     of 941.9 cents in the prior corresponding year. Headline loss per share from continuing
     operations of 60.2 cents in the current year, in line with the prior year of 60.4 cents,
     despite the tough trading environment given the impact of the pandemic.

     Loss per share of 160.1 cents in the current year, an improvement from the loss per
     share of 1 965.9 cents in the prior corresponding year.

     Note: Shareholders are reminded that historic per share metrics are adjusted to reflect
     the consolidation of the share capital of the Company on 8 July 2020 (every one
     hundred ordinary shares were consolidated into one ordinary share).

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/2021/JSE/ISSE/LUXE/FY21.pdf

     Copies of the Full Announcement is also available for viewing on the Company’s website
     at https://www.luxeholdings.co.za/financial-information/financial-information-2/ 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.

     These annual results have been audited by the Company’s auditors, Mazars, who
     expressed an unmodified audit opinion thereon. The full auditor’s report includes details
     of key audit matters. This auditor’s report is available, along with the annual financial
     statements, on the Company’s website at https://www.luxeholdings.co.za/financial-
     information/financial-information-2/.


Sandton

31 May 2021

Sponsor
PSG Capital

Date: 31-05-2021 04:50:00
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