The Board of Directors is satisfied that a reasonable degree of certainty exists that the Group’s financial results for the year ended 28 February 2022 will differ by at least 20% from those reported for the year ended 28 February 2021 (“the prior comparable year”) 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 impact of the COVID-19 global pandemic (“pandemic”) and resultant national lockdowns and trading restrictions have continued to impact the Group’s results. Our performance recovered from the pandemic’s worst financial impacts, compared to the prior comparable year.
The prior comparable year’s earnings were negatively impacted by a loss from discontinued operations of R1.1 billion (net of tax).
As a result, the reported headline earnings per share (HEPS)(including discontinued operations) is expected to increase between 473% and 555% when compared to the prior comparable year and the reported basic earnings per share (BEPS)(including discontinued operations)is expected to increase between 123% and 128% when compared to the prior comparable year.
HEPS from continuing operations are expected to be within the range of 320 cents to 392 cents and BEPS within the range of 285 cents to 349 cents.
| 28 February 2021
Prior year comparable earnings Cents |
Expected
growth % |
28 February 2022
Expected earnings Cents |
|
| Basic earnings per share – Total operations | (1 237) | 123%-128% | 285-349 |
| Headline earnings per share – Total operations | (86) | 473%-555% | 320-392 |
| Basic earnings per share – Continuing operations | (127) | 325%-375% | 285-349 |
| Headline earnings per share – Continuing operations | 53 | 504%-639% | 320-392 |
The Group’s results for the year will be published on SENS on or about Tuesday 31 May 2022.
A live audio webcast of the results will be held at 10H30 (SAST) on 31 May 2022. To pre-register link to: www.corpcam.com/famousbrands31052022
The financial information on which these announcements are based has not been reviewed or reported on by the Group’s external auditors.
11 May 2022 Midrand
Sponsor The Standard Bank of South Africa Limited