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eMEDIA HOLDINGS LIMITED - Trading statement

Release Date: 21/05/2020 11:39
Code(s): EMN EMH     PDF:  
Wrap Text
Trading statement

(Incorporated in Republic of South Africa)
Registration number: 1968/011249/06
JSE share code: EMH        IZIN: ZAE000208898
JSE share code: EMN        IZIN: ZAE000209524
(“eMedia Holdings” or “the Group”)


In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are
required to publish a trading statement as soon as they are reasonably certain that the
financial results for the current reporting period will be more than 20% different than
that of the previous corresponding period.

Earnings and headline earnings per share for the year ended 31 March 2020 is expected
to vary from those reported in the prior year ended 31 March 2019 within the following

 Measure            31 March 2020     Restated* 31      As previously
                    Expected range    March 2019        reported 31
                    cents per share   cents per share   March 2019
                                                        cents per share
 Earnings per       -425 and -427     10.85             10.85
 share will
 decrease to a
 loss per share
 Earnings per       -422 and -425     18.88             16.12
 share from
 will decrease
 to a loss per
 Loss per share      -2 and -3         -8.03             -5.27
 will decrease
 Headline            32 and 34.5       13.45             13.45
 earnings per
 share will
 Headline            34 and 37         18.59             15.83
 earnings per
 share from
 will increase
 Headline loss       -1.6 and -2       -5.14             -2.38
 per share from
 will decrease

*Prior year restated to account for the impact of discontinued operations of Jacana
Media, Crystalbrook Distribution and Niveus 13
The loss per share in the current year can be attributed to the impairment of goodwill
with a value of R2 039.9m. The goodwill was initially recognised upon the acquisition
of eMedia Investments Proprietary Limited in the year ended 31 March 2014.

The Group’s performance has been negatively impacted by an impairment of goodwill that
has been necessitated by the effect of the current COVID-19 pandemic.     The negative
impact is being felt in the first half of the 2021 financial year due to the continued
lockdown and slow restart to economic activity and has been factored into the results
being published currently. The impact of the impairment has been forecasted from the
loss of advertising revenue in some key industries such as fast foods, alcohol, the
motor industry as well as the negative impact on the exchange rate.

The financial information on which this trading statement is based, has not been reviewed
or reported upon by the Group’s auditors.

The Group’s results for the year ended 31 March 2020 are scheduled to be published on
or about 29 May 2020.

21 May 2020

Investec Bank Limited

Date: 21-05-2020 11:39:00
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