YORK TIMBER HOLDINGS LIMITED - Trading statement and trading update
Trading statement and trading update
York Timber Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
(“York” or the “Company” or the “Group”)
TRADING STATEMENT AND TRADING UPDATE
York is in the process of finalising its results for the year
ended 30 June 2022 for release on or about 20 September 2022.
In terms of paragraph 3.4(b) of the Listings Requirements of
the JSE Limited, companies are required to publish a trading
statement as soon as they are satisfied that a reasonable
degree of certainty exists that the financial results for the
period to be reported upon next will differ by at least 20%
from the previous corresponding period.
Shareholders are advised that for the year ended 30 June 2022,
earnings per share (“EPS”) is expected to decrease from 43*
cents to be between 8.20 cents and 11.28 cents (being a
decrease of between 81% and 74%), and headline earnings per
share is expected to decrease from 42* cents to be between
8.39 cents and 11.40 cents (being a decrease of between 80%
and 73%).
Furthermore, Shareholders are advised that:
- Core earnings per share (based on EPS attributable to
ordinary shareholders less the fair value adjustment to
the biological assets, net of tax) is expected to decrease
from 40* cents to be between 23.64 cents and 26.51 cents
(being a decrease of between 41% and 34%).
- Earnings before interest, taxation, depreciation,
amortisation and fair value adjustments on biological
assets is expected to be between 30% and 35% lower than
that for the comparative year of R322 million*.
- Cash generated from operations is expected to be between
50% and 55% lower than the R425 million* in the previous
year.
* The Group restated prior year figures following the
International Financial Reporting Interpretations
Committee (IFRIC) agenda decision on the accounting
treatment of costs of configuring or customising a
supplier’s application software in a cloud computing or
Software as a Service(SaaS)arrangement in March 2021. The
Group has reconsidered its accounting treatment and
adopted the treatment set out in the IFRIC agenda decision
and the cost of customisation and configuration have been
expensed in the Statement of profit or loss and other
comprehensive income. This change in accounting treatment
has been accounted for retrospectively and comparative
information has been restated. The results for the 2020
and 2021 financial year have been restated. A detailed
assessment and impact of the restatement will be included
in the results for the year ended 30 June 2022.
Shareholders are advised that the information included in
this announcement has not been reviewed or reported on by
the Company’s auditors and is the responsibility of the
directors of the Company.
Sabie, Mpumalanga
09 September 2022
Sponsor
One Capital
Date: 09-09-2022 04:12:00
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