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ESOR LIMITED - Trading Statement

Release Date: 21/06/2018 17:00:00      Code(s): ESR       PDF(s):  
Trading Statement

(Incorporated in the Republic of South Africa)
(Registration number: 1994/000732/06)
JSE code: ESR
ISIN: ZAE000184669
(“Esor” or “the Company”)


In terms of paragraph 3.4 of the listings requirements of the 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.

Esor is currently finalising its financial results for the year
ended 28 February 2018 and shareholders are advised that the
company expects the basic loss per share to be between 62.6 and
69.4 cents compared to a basic loss per share of 38.1 cent from
the previous corresponding period, representing an increased
basic loss per share of between 64.2% and 82.2%.

The Company expects the headline loss per share to be between
50.7 and 55.1 cents compared to headline loss per share of 24.4
cents from the previous corresponding period, representing an
increased headline loss per share of between 108% and 126%.

The financial information on which this trading update is based
has not been reviewed or reported on by the company’s auditors.

The company’s financial results for the year ended 28 February
2018 are expected to be released on SENS during the week ending
29 June 2018.

Shareholders are advised that the profit from operations has been
negatively affected by further losses incurred on the Northern
and Western Aqueduct pipeline projects for eThekwini of R179
million as well as impairments on uncertified revenue to the
value of R76 million.

Profit before tax was further negatively impacted by the
impairment of goodwill to the amount of R61.8 million.

21 June 2018

Vunani Corporate Finance

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