| Fri 15 Mar 2024, 16:20 | | YORK TIMBER HOLDINGS LIMITED - Trading statement and trading update |
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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 six
months ended 31 December 2023 ("Current Period") for release
on or about 28 March 2024.
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 Current Period:
- earnings per share ("EPS") is expected to decrease from
13.26 cents* to between 5.37 cents and 6.04 cents, being
a decrease of between 54% and 60% compared to 6 months
ended 31 December 2022 ("Previous Comparative Period");
and
- headline earnings per share is expected to decrease from
13.27 cents* to between 4.41 cents and 5.07 cents, being
a decrease of between 62% and 67% compared to the Previous
Comparative Period.
Furthermore, shareholders are advised that:
- Core EPS (based on EPS attributable to ordinary
shareholders less the fair value adjustment to the
biological assets, net of tax) is expected to decrease
from a loss of 2.62 cents* to a loss per share of between
9.98 cents and 10.11 cents compared to the Previous
Comparative Period.
- Earnings before interest, taxation, depreciation,
amortisation, and fair value adjustments on biological
assets is expected to be between 84% and 89% lower than
the Previous Comparative Period amount of R62.6 million*.
- Cash generated from operations is expected to be between
104% and 109% lower than the Previous Comparative Period
amount of R103.6 million*.
* Shareholders are advised that the Group restated its
Previous Comparative Period figures for a change in the
biological asset accounting policy to capitalise
plantation establishment costs. Other restatements were
made to the plantation biological asset which impacted
the fair value adjustment in the Statement of Profit or
Loss.
A detailed assessment and impact of the above restatements
will be included in the results for the Current Period.
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
15 March 2024
Sponsor
One Capital
Date: 15-03-2024 04:20:00
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