BELL EQUIPMENT LIMITED - Trading statement for the six months ended 30 June 2020

Trading statement for the six months ended 30 June 2020

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1968/013656/06
ISIN: ZAE000028304
Share Code: BEL
(“the Company”)

TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2020

Shareholders are advised that the Company’s earnings per share
(“EPS”) and headline earnings per share (“HEPS”) are expected to
be at least 80% (131 cents) lower for the six months ended 30 June
2020 when compared to the EPS and HEPS of 165 cents and 164 cents
respectively for the six months ended 30 June 2019. A further
trading statement for the six months ended 30 June 2020 will be
released on SENS once the Company has reasonable certainty
regarding the extent of the expected decrease in its results for
the six months ended 30 June 2020.

The expected decrease in earnings is mainly due to weak economic
conditions, especially in South Africa, and the impact of measures
taken by governments globally to curb the spread of the COVID-19
pandemic which has had a negative impact on production and sales
performance. Although steps have been taken to reduce costs during
the period, a key management focus remains the restructure of
operations to reduce the cost base and improve operating margins.

The Company has generated positive cashflow during the six-month
period, mainly due to a more conservative outlook on sales, lower
production volumes and reducing inventory in line with market
demand.

The financial information on which this trading statement is based
has not been reviewed and reported on by the Company’s external
auditors.

The results for the six months ended 30 June 2020 are expected to
be announced on SENS on or about 4 September 2020.

Richards Bay
15 July 2020

Sponsor: INVESTEC BANK LIMITED






Date: 15-07-2020 10:29:00
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