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MASTER PLASTICS LIMITED - Trading Statement for the Six Months Ended 31 August 2018

Release Date: 11/09/2018 14:30
Code(s): MAP     PDF:  
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Trading Statement for the Six Months Ended 31 August 2018

Incorporated in the Republic of South Africa
(Registration number 2016/323930/06)
Share code: MAP ISIN: ZAE000242921
(“Master Plastics” or “the Group”)


In terms of paragraph 3.4(b) of the Listings Requirements of JSE Limited, companies are required to publish
a trading statement as soon as a reasonable degree of certainty exists that the financial results for the
reporting period will differ by at least 20% from that of the previous corresponding period.

The Board of Directors of Master Plastics herewith advise shareholders that, due to the factors detailed
below, headline earnings per share ("HEPS") and earnings per share ("EPS") for the six months ended
31 August 2018 are expected to be within the following ranges:

                       Six months ended 31         Six months ended 31 August        Expected % change
                      August 2017 as reported        2018 as expected (cents)
 HEPS                          12.2                         8.10 - 8.71                (28.6%-33.6%)
 EPS                           12.1                         8.10 - 8.70                (28.1%-33.1%)

The first six months of the financial year to 31 August 2018 represented a difficult trading period as the
Group had to contend with extremely challenging and some unfamiliar conditions in numerous core markets.
The major impacting factors were the effect of the droughts experienced in the Western Cape, the listeria
outbreak which continued to depress the processed meats and spice markets and the market’s reaction to
the on-going land policy debate, which has had a negative impact on both investment into the agricultural
sector and the exchange rate. The weaker exchange rate and the increase in the oil prices towards the end
of the period have resulted in further adverse movements in polymer input prices, which has also negatively
impacted working capital. These factors, together with a generally weak economy, an ever-increasing cost of
living and increased taxes have resulted in a platform not conducive for trading during the first six months.

All these matters continue to adversely impact the Group and are expected to continue to exert pressure on
trading performance over the balance of the financial year due to their macro-economic and political nature.

The information on which this trading statement is based, has not been reviewed, audited or reported on by
the auditors of Master Plastics. The Group anticipates releasing its unaudited results for the six months
ended 31 August 2018 on SENS on or about 18 September 2018.

11 September 2018

Designated Adviser
Merchantec Capital

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