TASTE HOLDINGS LIMITED - Trading Statement

Trading Statement

TASTE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2000/002239/06)
Share code: TAS ISIN: ZAE000081162
(“Taste” or “the Company” or “the Group”)

TRADING STATEMENT


In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement
as soon as they become reasonably certain that the financial results for the period to be reported on will
differ by more than 20% from that of the previous corresponding period.

Taste is currently finalising its results for the period ended 31 August 2017 (“current period”) and the
directors anticipate that:
-   the loss per share is expected to be between 15.6 cents and 16.6 cents representing a decline of
    between 69.6% and 80.4%, compared to the loss per share of 9.2 cents for the period ended 31 August
    2016 (“prior period”);
-   the headline loss per share is expected to be between 15.5 cents and 16.4 cents representing a decline
    of between 72.2% and 82.2%, compared to the headline loss per share of 9.0 cents for the prior period.

Core earnings
As previously disclosed, the current period core earnings adjustment is limited to pre-opening expenses of
corporate owned stores; material, exceptional once-off costs or revenues; and non-cash lease smoothing
and IFRS 2 charges. This is non-comparable to the prior period adjustment as the prior period adjustment
included expenses associated with the final conversions to Domino’s, and the launch of Starbucks. As these
brands have now been established, there are no further launch costs and some of these costs are continuing
in the business as part of ongoing infrastructure required to support future growth of the business.
Accordingly, noting the non-comparability of the core adjustment, the core headline loss per share for the
current period is expected to be between 14.1 cents and 15.1 cents per share compared to a core headline
loss per share of 6.2 cents per share for the prior period.

The financial information on which this trading statement is based has not been reviewed or reported on by
Taste’s auditors. Taste's financial results are expected to be released on SENS on or about
12 October 2017.


Johannesburg
29 September 2017

Sponsor
Merchantec Capital

Date: 29/09/2017 12:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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