CAXTON AND CTP PUBLISHERS AND PRINTERS LIMITED - Trading Statement

Trading Statement

CAXTON AND CTP PUBLISHERS AND PRINTERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/022616/06)
Share code CAT        ISIN ZAE000043345

(“the Company”)


TRADING STATEMENT


Shareholders of the Company are advised that it is reasonably certain that, for the Company’s
financial year ended 30 June 2020:

   -   the headline earnings per share are expected to be between 19,4 and 21,4 cents per share,
       representing a decrease of between 80,9% and 78,9% as compared to the headline earnings
       of 101,6 cents per share reported for the financial year ended 30 June 2019, and

   -   the loss per share is expected to be between 14,8 and 16,4 cents per share as compared to
       the earnings of 86,7 cents per share reported for the financial year ended 30 June 2019.

These results are the result of difficult economic circumstances experienced by the Company and
its subsidiaries and associates (“the Group”) in the first half of the financial year, which intensified
during the third quarter that was prior to the Covid-19 lockdown period. The Covid-19 lockdown,
despite the gradual easing of restrictions towards year-end, had an unprecedented negative impact
on the full year Group results. All operating units were affected to varying degrees, ranging from a
complete shutdown to, at best, curtailed operations. The demand for our products and services was
severely impaired and in some of our major lines, the sale of the end-consumer products was totally
prohibited.

The current trading environment and outlook has meant that the Group had to re-assess the carrying
values of goodwill, investments, loans and the cash generating ability of certain plant and equipment,
which resulted in impairments.

In light of the uncertain trading environment, the Group was also compelled to evaluate certain
marginal operations in its portfolio and acted decisively in making strategic decisions to close these
businesses that have been in decline for a number of years pre-Covid-19. The closure and
retrenchment costs have been fully provided for and further depressed earnings.

Shareholders are advised that the Company is in the process of finalising its results for the period
concerned and it is expected that these results will be released on SENS on or about 18 September
2020.

By order of the board.

Johannesburg

3 September 2020


Sponsor

AcaciaCap Advisors Proprietary Limited

Date: 03-09-2020 05:35:00
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