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AFRICAN & OVERSEAS ENTERPRISES LIMITED - Trading statement

Release Date: 28/03/2022 14:30
Code(s): AON AOO AOVP     PDF:  
Wrap Text
Trading statement

AFRICAN AND OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO ISIN: ZAE000000485
JSE share code: AON ISIN: ZAE000009718
JSE share code: AOVP ISIN: ZAE000000493
("AOE")


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 current reporting period will differ by at least 20% from the financial results for the
previous corresponding period.

Shareholders are accordingly advised that:

    -   AOE's earnings per share will increase by 2870.0%, from a loss of 4.0 (restated) cents per
        share, loss of 2.8 cents per share previously reported, for the six months ended 31 December
        2020, to earnings of 110.8 cents per share for the six months ended 31 December 2021; and

    -   AOE's headline earnings per share will increase by 2692.9%, from headline earnings of 4.2
        (restated) cents per share, headline earnings of 5.4 cents per share previously reported, for the
        six months ended 31 December 2020, to headline earnings of 117.3 cents per share for the six
        months ended 31 December 2021.

Shareholders are further advised that the Company's results contain a prior year adjustment and that
the comparative balances accordingly differ from those previously reported. The prior year earnings
and headline earnings were impacted by the recognition of an estimate of store reinstatement costs as
part of the right-of-use assets incorporated within the retail segment. The material items impacted
meant that the loss per share increased by 1.2 cents and headline earnings per share decreased by
1.2 cents from what was previously reported.

Further details pertaining to the restatement will be included in the reviewed results announcement,
which is expected to be published on SENS on 29 March 2022.

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

28 March 2022


Sponsor
Java Capital

Date: 28-03-2022 02:30:00
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