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Abridged unaudited group financial results for the six months ended 31 December 2018
CHOPPIES ENTERPRISES LIMITED
Registration number 2004/1681
ISIN:BW0000001072
JSE SHARE CODE: CHP
BSE SHARE CODE: CHOPPIES
Tax Reference Number: C08710401018
“Choppies” or the “Company” or “the Group”
ABRIDGED UNAUDITED GROUP FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2018
The Board of Choppies Enterprises Limited announces the results of the Group for the six months ended 31 December 2018.
Financial highlights
- These results were published late due to changes in auditors as well as the legal and forensic
investigations on some of the matters raised by the auditors which reports were only concluded and
released during September 2019. These events, coupled with the outbreak of COVID 19 and the
lockdowns in the countries in which the Group operates, resulted in the delay in publication.
- Group Revenue increased by 3% from P5 762 million to P5 921 million. Gross profit margin increased
from 19.5% to 20.5% owing to a 1.1% improvement in the Botswana segment.
- Profit decreased from P68 million to a loss of P60 million mainly due to reported losses of P100 million
(2017: profit of P3 million) from the South Africa segment on the back of dismal trading conditions in
the North West province.
- The Company has a policy of declaring dividends once a year based on the annual results.
Key financial data 2018 2017 Change
(unaudited)
Pula Millions Pula Millions
Revenue 5,921 5,762 3%
Gross profit 1,212 1,122 8%
Gross margin 20.5% 19.5% 100 bps
Operating (loss)/profit (13) 124 (110%)
Operating margin (0.2%) 2.2% (237 bps)
(Loss)/Profit for the period (60) 68 (188%)
(Loss)/Earnings per share basis (4.0 Thebe) 5.4 Thebe (175%)
Headline (loss)/earnings per share
basic (2.2 Thebe) 5.4 Thebe (141%)
Net cash flows generated from
operating activities 309 347 (39)
Cash and cash equivalents at end of
the period 152 199 (47)
This short form announcement is the responsibility of the Board of Directors of Choppies Enterprises
Limited and is a summary of the information in the full announcement available on the Stock Exchange
News Service (“SENS”) at https://senspdf.jse.co.za/documents/2020/JSE/ISSE/CHP/CHPDEC18.pdf and
on the Group’s website: https://choppiesgroup.com/investor-relations/.
This announcement does not contain full details and should not be used as a basis for any investment
decision in relation to the Company’s shares. The full announcement is also available for inspection, at no
charge, at the Company’s registered office (Plot 50371, Fairgrounds office park, Gaborone, Botswana.) and
the office of the Sponsor during standard office hours.
Sponsors:
Stockbrokers Botswana Ltd
Plot 67978, Ground Floor, East Wing, Mokolwane House, Fairgrounds, Gaborone, Botswana Telephone:
+267 395 7900
Rand Merchant Bank (A division of First Rand Bank Limited)
1 Merchant Place, Corner of Fredman Drive and Rivonia Road, Sandton, 2196
Telephone: (011) 282 8231
24 JULY 2020
The Company’s primary listing is on BSEL and its secondary listing is on JSE. The listings in both
exchanges are currently suspended.
Date: 24-07-2020 12:30:00
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