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NOVUS HOLDINGS LIMITED - Trading statement and Change to the Board

Release Date: 28/10/2019 09:13
Code(s): NVS     PDF:  
 
Wrap Text
Trading statement and Change to the Board

Novus Holdings Limited
(Incorporated in the Republic South Africa)
JSE share code: NVS
ISIN: ZAE000202149
Registration number: 2008/011165/06
(“Novus Holdings”, “the Company” or “the Group”)


TRADING STATEMENT AND CHANGE TO THE BOARD


TRADING STATEMENT

In accordance with the Listings Requirements of the JSE, shareholders are advised that the Group is
satisfied that a reasonable degree of certainty exists that the financial results to be reported on for the
six months ended 30 September 2019 will differ by 20% or more from the financial results of the previous
corresponding reporting period.

The Group expects its basic earnings per share (“EPS”) for the six months ending 30 September 2019 to
be within the range of 22 cents and 26 cents. This corresponds to a decline of between 46% and 54% when
compared to the reported EPS of 48.1 cents for the six months ending 30 September 2018.

Factors that negatively impacted the Group’s earnings per share (“EPS”) relative to the comparative
period include: the severely constrained local economy, under-recovery of paper price increases, margin
compression resulting from over-capacity within a declining print industry and a delay in the invoicing of
certain material contract work.

The Group expects its headline earnings per share (“HEPS”) for the six months ending 30 September 2019
to be within the range of 28 cents and 31 cents. This corresponds to a decline of between 38% and 43%
when compared to the reported HEPS of 49.4 cents for the six months ending 30 September 2018.

The Group expects to release its results for the six months ending 30 September 2019 on SENS on or about
07 November 2019.

The financial information on which this trading statement is based has not been reviewed or reported on
by the external auditors of Novus Holdings.


CONSTITUTION OF THE BOARD

Furthermore, shareholders are reminded that as mentioned in the Notice of Annual General Meeting
(“AGM”) Jan Potgieter did not seek re-election at the AGM and accordingly retired as a director of the
board with effect 30 August 2019. The board wishes to thank Jan for his dedication and invaluable
contributions to the Group and wishes him well in his future endeavours.

Cape Town

28 October 2019
Sponsor: Investec Bank Limited

                                                                                                         

Date: 28/10/2019 09:13:00
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