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Sharenet Sites
Updated trading statement for the year ended 30 June 2024
KAP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1978/000181/06)
Share code: KAP
ISIN: ZAE000171963
Company Alpha Code: KAP
LEI code: 3789001F51BC0045FD42
('KAP' or 'the Company' or 'the group')
UPDATED TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2024
On 25 June 2024, the Company published an operational update and trading statement in which it advised
shareholders that a reasonable degree of certainty existed, that if trading conditions persisted:
- Earnings per share ('EPS') was expected to increase by at least 20% (or 4.3 cents) for the financial year
ended 30 June 2024 ('FY24'), compared to the EPS of 21.3 cents reported for the prior financial year ('FY23');
while
- Headline earnings per share ('HEPS') was not expected to differ by 20% or more for FY24 compared to the
HEPS of 47.3 cents reported for FY23.
As advised in the operational update, KAP remained resilient in a challenging trading environment, with five of our
six divisions delivering an improved performance compared to the prior year. This was offset by a weaker
performance by Safripol, which continued to be affected by a cyclical low in the global polymers industry.
The Company is in the process of finalising its FY24 financial results and confirms that a reasonable degree of
certainty now exists, that for FY24:
- EPS will be between 41.8 cents and 45.8 cents, representing an increase of between 96% and 115%
compared to the EPS of 21.3 cents reported for FY23, as the FY23 financial results included a R570 million
non-cash impairment of intangibles, net of taxation, related to Unitrans; while
- HEPS will be between 43.3 cents and 47.3 cents, representing a decrease of between 0% and 8% compared
to the HEPS of 47.3 cents reported for FY23.
The group successfully commissioned its major capital projects in the second half of FY24, which are expected to
meaningfully contribute to the group's future earnings and enable a planned debt reduction. The group remained
within its financial covenant ratios.
The Company's results for FY24 are expected to be announced on SENS on or about 30 August 2024.
Shareholders are advised that the Company's auditors have not yet finalised their audit, review and reporting
requirements of the financial information on which this trading statement is based.
Stellenbosch
16 August 2024
Equity and Debt Sponsor
PSG Capital
Date: 16-08-2024 03:00:00
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