TRUWORTHS INTERNATIONAL LIMITED - Trading statement and business update for the 52-week period ended 27 June 2021

Trading statement and business update for the 52-week period ended 27 June 2021

Truworths International Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1944/017491/06)
JSE Code: TRU
NSX Code: TRW
ISIN: ZAE000028296

TRADING STATEMENT AND BUSINESS UPDATE FOR THE 52-WEEK PERIOD ENDED 27 JUNE
2021

Introduction
Investors are referred to the business update for the 52-week period ended 27 June 2021
(the ‘period’) published by Truworths International Limited (the ‘Group’) on SENS on
20 July 2021 (the ‘update’). In this update it was advised that the Group was in the process
of finalising its results for the period and that the Group would provide an update on earnings
for the period when it had reasonable certainty in this regard. The Group now has reasonable
certainty in this regard and reports as follows.

Earnings
Amidst the challenging trading conditions referred to in the update, the Group’s headline
earnings per share (‘HEPS’) and earnings per share (‘EPS’) for the period are estimated to
increase as follows:

                                                                                    Estimated
                                      52 weeks to          52 weeks to            increase on
                                     27 June 2021         28 June 2020           prior period
                                          (cents)              (cents)                    (%)
 HEPS                                  503 to 523                  410             23% to 28%
 EPS                                   463 to 483                 -133

Update on impact of civil unrest
Further to the update, the Group is pleased to announce that it has been able to reopen 30
of the 57 stores that had been impacted directly and severely by the civil unrest in South
Africa in July. The Group expects to have reopened a total of 48 of the affected stores by the
end of August. Three more stores are scheduled to reopen around the middle of September,
while the reopening dates of the remaining six stores is unknown due to the severe fire
damage to the shopping centres in which they are located. All stores that were closed as a
precautionary measure have resumed trading.

The Group is in the process of quantifying the losses resulting from damage to stores, the
loss of stock (predominantly winter stock) and the loss of profits as a consequence of the
inability to trade. The Group is working closely with its insurers to submit and finalise all
claims as speedily as possible and believes that it has adequate insurance cover to mitigate
much of these losses.

Annual results
Shareholders are advised that this trading statement and business update do not constitute
an earnings forecast, that the financial information provided herein is the responsibility of the
directors, and that such information has neither been reviewed nor reported on by the Group’s
external auditors. The Group expects to publish its audited annual results for the period on
Thursday, 2 September 2021.


                                                                                      
16 August 2021
Cape Town

Sponsor in South Africa
One Capital

Sponsor in Namibia
Merchantec Capital




                          

Date: 16-08-2021 08:45:00
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