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STEFANUTTI STOCKS HOLDINGS LIMITED - Trading statement

Release Date: 15/05/2023 15:05
Code(s): SSK     PDF:  
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Trading statement

Stefanutti Stocks Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/003767/06)
Share code: SSK         ISIN: ZAE000123766
(“Stefanutti Stocks” or “the group”)


TRADING STATEMENT


In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited, the board of directors of
Stefanutti Stocks hereby provides shareholders with a trading update of the group’s results for the year ended
28 February 2023.


In line with the Restructuring Plan, the group initiated a disposal program to include the sale of certain
operations which have accordingly been classified as discontinued operations. These disposals are expected
to be concluded within the next 12 months. Consequently, the results for the comparative prior period will be
restated to reflect continuing and discontinued operations in accordance with International Financial Reporting
Standards.


Incorporating this reclassification and in respect of continuing operations, earnings per share are expected to
reflect a loss of between 40,58 cents and 8,12 cents per share representing an improvement of between 75%
and 95% on the restated loss of 162,30 cents per share for the comparative prior period. Similarly, headline
earnings per share are expected to reflect a loss of between 37,30 cents and 20,72 cents per share
representing an improvement of between 55% and 75% on the restated loss of 82,88 cents per share for the
comparative prior period.


In respect of total operations (comprising both continuing and discontinued operations), earnings per share
are expected to reflect a profit of between zero and 24,83 cents per share representing an improvement of
between 100% and 110% on the loss of 248,27 cents per share for the comparative prior period. Similarly,
total headline earnings per share are expected to reflect a loss of between 48,54 cents and 29,12 cents per
share representing an improvement of between 50% and 70% on the loss of 97,07 cents per share for the
comparative prior period.


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


The release of the results for the year ended 28 February 2023 is anticipated to be published on 25 May 2023.


Johannesburg
15 May 2023
Sponsor: Bridge Capital Advisors Proprietary Limited

Date: 15-05-2023 03:05:00
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