HUGE GROUP LIMITED - Audited summarised condensed financial results for the year ended 29 February 2024 and availability of IAR

Audited summarised condensed financial results for the year ended 29 February 2024 and availability of IAR

 HUGE GROUP LIMITED
 (Incorporated in the Republic of South Africa)
 (Registration number 2006/023587/06)
 Share code: HUG ISIN: ZAE000102042
 ("Huge Group" or "the Company")

SHORT-FORM ANNOUNCEMENT:
AUDITED SUMMARISED CONDENSED FINANCIAL RESULTS FOR THE YEAR ENDED 29
FEBRUARY 2024 AND AVAILABILITY OF INTEGRATED ANNUAL REPORT

The board of directors of the Company (the Board) is pleased to present the
financial results (Financial Results) for the reporting period ended 29 February
2024.

SALIENT FEATURES

Huge Group is an investment entity in terms of International Financial Reporting
Standards (IFRS): IFRS 10. The performance measures relevant to the
Company's financial results are:

                                              Financial year        Financial year
                                                       ended     ended 28 February
                                                 29 February                  2023
                                                        2024             (Audited)
                                                   (Audited)
 Operating profit                Rands            35 374 186            80 246 911
 Headline earnings per share     cents                 20.50                 46.38
 Earnings per share              cents                 20.50                 46.38
 Net asset value per share       cents                964.54                943.85

DIVIDEND

No dividends have been declared for the year ended 29 February 2024
(FY2023: Nil).

INVESTMENT ENTITY STATUS

IFRS requires that an entity annually reassesses whether it is an investment entity
and if facts or circumstances indicate changes to one or more of the elements
characteristic of an investment entity, it may be required to change its basis of
accounting.

An investment entity does not consolidate its subsidiaries (other than
subsidiaries that provide services related to the investment entity's investment
activities, such as those subsidiaries comprising Huge Group's head office
operations, being Huge Management Company Proprietary Limited, Huge
Soho Proprietary Limited, and Huge SPV 1 Proprietary Limited), but rather
measures its subsidiaries at fair value through profit or loss.

Huge Group has re-assessed its status as an entity and has determined that it
continues to exhibit the characteristics of an investment entity in terms of
IFRS10.

AVAILABILITY OF INTEGRATED ANNUAL REPORT

The Company's Integrated Annual Report, incorporating the audited financial
statements for the year ended 29 February 2024, is available on the
Company's website at:
https://www.hugegroup.com/financials

The Company's Integrated Annual Report will be issued to shareholders on
Thursday, 30 May 2024.

SHORT-FORM ANNOUNCEMENT

This short form announcement is the responsibility of the Board and is only a
summary of the information contained in the Integrated Annual Report.

The Financial Results have been audited by Huge Group's auditor, Moore
Johannesburg Incorporated, who have expressed an unmodified audit
conclusion thereon.

This short-form announcement does not contain full or complete details
pertaining to Huge Group's results. Any investment decisions by investors
and/or shareholders should be based on a consideration of the Integrated
Annual Report, which may be downloaded from the Company's website at:
https://www.hugegroup.com/financials

which may also be viewed at the registered offices of the Company and the
Sponsor, at no charge, during office hours from the date of this announcement
for a period of 30 days. The Integrated Annual Report is also available on the
JSE's website at:
https://senspdf.jse.co.za/documents/2024/jse/isse/HUG/ye2024.pdf.

Johannesburg
31 May 2024

Sponsor
Questco (Pty) Ltd

Date: 31-05-2024 05:00:00
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