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Annual General Meeting Briefing
LONG4LIFE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2016/216015/06)
Share code: L4L ISIN: ZAE000243119
(“Long4Life” or “the company” or “the group”)
ANNUAL GENERAL MEETING BRIEFING
The following operational update for the first quarter of the financial year ending on 28
February 2022 will be provided by Long4Life’s CEO, Brian Joffe, at the Annual General Meeting
on Tuesday 29 June 2021.
The group’s trading for the three months to 31 May 2021 (“the quarter”) was pleasing, with
all three divisions’ trading profit ahead of the first quarter of the pre-COVID 2020 financial
year (‘comparable pre-COVID quarter’).
Trading in the Sport and Recreation division for the quarter was encouraging, especially in
Sportsmans Warehouse and Outdoor Warehouse. Sales in Performance Brands were more
muted as the business continues to be impacted by the lower demand from corporates and
lodges for bespoke offerings. The growth in online sales continues to be pleasing across all
the businesses. As set out in the SENS announcement on 23 June 2021, this division will form
the basis for the building of a focussed niche retail business.
Notwithstanding the continued COVID-19 restrictions, the Beverage division’s performance
for the quarter exceeded the comparable pre-COVID quarter, buoyed by strong demand in
Own Brands which enhanced trading margins.
The performance of the Personal Care and Wellness division in the quarter was reasonable
under the circumstances. Trade in Sorbet, whilst not at pre-COVID levels, was promising in
March and April, however the spike in COVID-19 infections in May impacted demand. Trading
in the other businesses in this division were satisfactory.
Given the negative impact of the 3rd wave of the pandemic as well as the slow vaccine rollout,
it is difficult to predict the performance for the full financial year. Nonetheless, we remain
cautiously optimistic on the short to medium-term prospects for the group.
The group’s balance sheet remains strong with significant liquidity. We continue to focus on
cost containment, working capital improvements and enhanced profit growth. The effect of
the share buy-backs in prior periods is starting to yield positively on HEPS.
We remain committed to taking the necessary precautionary measures to ensure a safe and
healthy working and shopping environment, with all employees and customers being given
support – where required – to protect against this pandemic.
The financial information on which this briefing statement is based has not been reviewed
and reported on by the company’s external auditors.
29 June 2021
Johannesburg
Sponsor
The Standard Bank of South Africa Limited
Date: 29-06-2021 08:00:00
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