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CANCELLATION OF S486545 Unaudited Condensed Consolidated Interim Financial Results For The Six Months Ended 31 December 2023
TRELLIDOR HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1970/015401/06)
Share Code: TRL
ISIN Code: ZAE000209342
("the Company" or "the Group")
UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL RESULTS FOR THE SIX
MONTHS ENDED 31 DECEMBER 2023
1. SALIENT FEATURES
Revenue increased by 6.9% to R292.2 million, from R273.3 million in the prior corresponding
period.
Earnings and headline earnings per share decreased by 16.1% to 21.4 cents per share, from
25.5 cents per share in the prior corresponding period.
During the period under review the Group faced two significant challenges, namely, declining
revenue in the domestic market; and increased opening debt levels as at 30 June 2023, at
higher interest rates.
With reference to the above, the following was achieved during the six month period:
• revenue from international markets increased to R82.4 million (driven by a strong
performance by the Trellidor UK division), representing 28.2% of the Group's revenue;
and
• net debt was reduced from R140.3 million to R116.8 million, driven by improvements
in the investment in working capital.
Despite ongoing macro-economic challenges, particularly in the domestic market, the
Group's strategies remain focused on improving shareholder value over time. These include
restructuring and optimally reducing the current level of net debt, further improved working
capital management, and rigorous cost management. In addition, the Group will continue to
focus on optimising revenue generation domestically, while leveraging off opportunities
abroad.
2. DIVIDEND
Given the current level of net debt, the Board has taken a decision not to declare an interim
dividend in respect of the six months ended 31 December 2023 (F23 H1: Nil). The objective
of the Board is to revert to paying dividends once borrowings and gearing levels have
normalised.
3. SHORT-FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the directors of the Company. It
contains only a summary of the information included 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/2024/JSE/ISSE/TRLE/TRL_HY24.pdf
A copy of the Full Announcement is also available for viewing on the Company's website at
TRL HY24.
This short-form announcement has not been audited or reviewed by the Group's auditors.
The financial information has been extracted from the condensed consolidated interim
financial results for the six months ended 31 December 2023.
Any investment decisions by investors and/or shareholders should be based on
consideration of the Full Announcement, as a whole.
4. WEBINAR
Shareholders are advised that the Company will be hosting a webinar at 10:00 am on
Thursday, 7 March 2024 to present the interim financial results for the six month period
ended 31 December 2023 to the market.
Please follow the link below to register for the webinar:
TRL - Interim Results Webinar
Durban
7 March 2024
Sponsor
PSG Capital
Date: 07-03-2024 04:37:59
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