The Board of Directors (“Board”) is satisfied that a reasonable degree of certainty exists that the Group’s financial results for the six months ended 31 August 2022(“review period”) will differ by at least 20% from those reported for the six months ended 31 August 2021 (“the prior comparable period”) and is therefore able to issue this trading statement in terms of Section 3.4(b)(i) of the Listings Requirements of the JSE Limited.

The business continues to steadily recover due to COVID-19 restrictions having been lifted and customers returning to restaurants.

The reported headline earnings per share (HEPS)is expected to increase between 99% and 143% when compared to the prior comparable period and the reported basic earnings per share (BEPS) is expected to increase between 143% and 197% when compared to the prior comparable period.

The improvement in earnings is mainly driven by an increase in revenue across the business. Furthermore, BEPS was positively impacted by the GBK Restaurants Limited, UK (GBK) liquidation dividend of R 75 million that was paid in August 2022.

31 August 2021
Prior period
31 August 2022
Expected earnings
BEPS 96 143 – 197 233 – 285
HEPS 97 99 – 143 193 – 236

The Group’s results for the review period will be published on SENS on or about Wednesday, 26 October 2022.

A live audio webcast of the results will be held at 10H00 (SAST) on 26 October 2022. To pre-register link to:

The financial information on which this announcement is based has not been reviewed or reported on by the Group’s external auditors.

10 October 2022

Sponsor and Corporate Broker
The Standard Bank of South Africa Limited