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Trading statement
ELLIES HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2007/007084/06)
JSE share code: ELI ISIN: ZAE000103081
(“Ellies” or the “Company”)
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon
as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon
next will differ by at least 20% from the previous corresponding period.
Shareholders are accordingly advised that Ellies expects a loss per share of between 3,76 and 4,59 cents, compared to the
earnings of 11,57 cents per share for the half year ended 31 October 2018 and a headline loss per share of between 2,62
and 3,20 cents, compared to the headline earnings of 0,24 cents per share for the half year ended 31 October 2018.
The change to a loss is attributable to:
-a marginal decline in revenue compared to the 2019 fiscal year; and
-management changing its intention during the current period with regards to investment properties which are now held
for sale, resulting in an impairment of R8,0 million.
The 2018 interim financial results included R69,8 million in respect of a profit on the discontinued operation of Botjheng
Water. At the time it was expected that Botjheng Water would be liquidated and deregistered by 30 April 2019. Due to
changes at executive level, this did not happen. The new Ellies board of directors, appointed on 4 April 2019, reviewed
the decision and concluded it was premature to deconsolidate and reversed the decision. A portion of the profit was
subsequently realised on the loss of control. The remaining amount is expected to be a gain when Botjheng Water is
disposed of or wound up, but it will not result in a cash flow. Management will endeavour to have this resolved by the end
of the 2020 financial year.
The financial results for the six months ended 31 October 2019 are anticipated to be released on or about 31 January
2020.
The forecast financial information on which this trading statement is based has not been reviewed or reported on by the
Company´s external auditors.
11 December 2019
Sponsor
Java Capital
Date: 11-12-2019 05:00:00
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