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LABAT AFRICA LIMITED - Short-Form Announcement Audited Results for the Year Ended 31 May 2024

Release Date: 13/12/2024 16:57
Code(s): LAB     PDF:  
Wrap Text
Short-Form Announcement Audited Results for the Year Ended 31 May 2024

LABAT AFRICA LIMITED
Incorporated in the Republic of South Africa
(Registration number 1986/001616/06)
JSE code: LAB ISIN: ZAE000018354
LEI number: LEI9845000R73DF5EE41J88
("Labat" or "The company" or "the Group")


SHORT-FORM ANNOUNCEMENT
AUDITED RESULTS FOR THE YEAR ENDED 31 MAY 2024


Salient Features
Extracted from the audited annual financial statements:

                                                   Year             Year
                                                  ended            ended
                                                 31 May           31 May
                                                   2024             2023    Difference   Percentage
                                                Audited          Audited
 Revenue                       R' 000            48 536           49 534          998       (2.01)%
 Gross profit                  R' 000            29,839           21,221        8,618        40.61%
 Total comprehensive loss      R' 000          (26 404)         (86 732)       60 328        69.56%
 Loss per share                cents             (3.97)          (14.25)        10.28        72.14%
 Headline loss per share       cents             (3.95)           (7.14)         3.19        44.68%
 Net asset value per share     cents             (2.99)            1.58         (4.57)    (289.24)%

Short-Form Announcement
The short-form announcement is the responsibility of the directors. It is only a summary of the
information contained in the audited Annual Financial Statements for the year ended 31 May 2024
("Full announcement") and does not contain full or complete details. Any investment decisions by
investors and/or shareholders should be based on a consideration of the full announcement which
is available on the Company's website www.labat.co.za or can be accessed via the following link:

https://senspdf.jse.co.za/documents/2024/JSE/ISSE/LAB/LABIR24.pdf

Audit Opinion
The audited annual financial statements for the year ended 31 May 2024 have been audited by
Khumalo Xaba Xulu (KXX). The auditors' opinion is unmodified and is set out below:

"In our opinion, the consolidated and separate financial statements present fairly, in all material
respects, the consolidated and separate financial position of Labat Africa Limited as at 31 May 2024,
and its consolidated and separate financial performance and consolidated and separate cash flows
for the period then ended in accordance with International Financial Reporting Standards and the
requirements of the Companies Act of South Africa.

The Auditor's Opinion does not necessarily report on all of the information contained in this
announcement. Shareholders are therefore advised that in order to obtain a full understanding of
the nature of the Auditor's engagement, they should obtain a copy of the Auditor's Report together
with the accompanying annual financial statements from the company's registered office.
Copies of the annual financial statements may be requested from the Company (info@labat.co.za)
or inspected at the registered office and/or the Sponsors' office, at no charge, during office hours.

For and on behalf of the Board of Directors.


B G van Rooyen                                                                           DJ O'Neill
Chief Executive Officer                                                           Financial Director

Johannesburg
13 December 2024

Directors:
BG van Rooyen*, DJ O'Neill*, RM Majiedt^, R Rustum^, BA Penny^ SE van Rooyen*
Executive*, Independent non-executive^

Company Secretary: A Van Rooyen 

Registered Address: 23 Kroton Avenue, Weltevreden Park, 1709

Sponsor: Vunani Capital Proprietary Limited

Transfer Secretary: Computershare Investor Services Proprietary Limited

Date: 13-12-2024 04:57:00
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