BOWLER METCALF LIMITED - Trading Statement

Trading Statement

BOWLER METCALF LIMITED
(Registration number 1972/005921/06)
Share code: BCF        ISIN number: ZAE000030797 
("Bowler Metcalf" or "the Company")

TRADING STATEMENT

In terms of rule 3.4(b) of the Listings Requirements of the JSE Limited, a listed company is required to
publish a trading statement as soon as a reasonable degree of certainty exists that the financial
results for the next reporting period to be reported on will differ by at least 20% from those of the
previous corresponding period.

Shareholders are advised that the company's interim financial results for the six months ended
31 December 2023 are expected to show a substantial improvement compared to the
corresponding period.

The improved financial results are due to increased sales in the Packaging segment (mainly volume
related) which offset higher material costs, contributed to improved economies of scale in the
factory and warehouse and compensated for additional, planned maintenance in the Property
segment. Operationally, the Packaging segment managed higher capacity utilisation than the
previous year, which had been significantly affected by the negative impact of loadshedding.

Accordingly, the Company's earnings per share for the interim period ended 31 December 2023 is
expected to be between 68.8 and 73.3 cents, being between 42.1% and 61.9% higher compared
to earnings per share of 48.4 cents for the six months ended 31 December 2022.

Similarly, the Company's headline earnings per share for the six months ended 31 December 2023 is
expected to be between 68.8 and 73.3 cents, being between 42.1% and 61.9% higher compared
to headline earnings per share of 48.4 cents for the six months ended 31 December 2022.

The information on which this announcement has been based has not been reviewed or reported
on by the Group's auditors.

Cape Town
23 January 2024


Sponsor
AcaciaCap Advisors Proprietary Limited

Date: 23-01-2024 04:26:00
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