Enhanced Investments - Financial Portal

Trading Statement

Published: 2024-01-23 17:26:27 ET

                                     BOWLER METCALF LIMITED
                               (Registration number 1972/005921/06)
                        Share code: BCF         ISIN number: ZAE000030797
                              (“Bowler Metcalf” or “the Company”)



                                         TRADING STATEMENT


In terms of rule 3.4(b) of the Listings Requirements of the JSE Limited, a listed company is required to
publish a trading statement as soon as a reasonable degree of certainty exists that the financial
results for the next reporting period to be reported on will differ by at least 20% from those of the
previous corresponding period.

Shareholders are advised that the company’s interim financial results for the six months ended
31 December 2023 are expected to show a substantial improvement compared to the
corresponding period.

The improved financial results are due to increased sales in the Packaging segment (mainly volume
related) which offset higher material costs, contributed to improved economies of scale in the
factory and warehouse and compensated for additional, planned maintenance in the Property
segment. Operationally, the Packaging segment managed higher capacity utilisation than the
previous year, which had been significantly affected by the negative impact of loadshedding.

Accordingly, the Company’s earnings per share for the interim period ended 31 December 2023 is
expected to be between 68.8 and 73.3 cents, being between 42.1% and 61.9% higher compared
to earnings per share of 48.4 cents for the six months ended 31 December 2022.

Similarly, the Company’s headline earnings per share for the six months ended 31 December 2023 is
expected to be between 68.8 and 73.3 cents, being between 42.1% and 61.9% higher compared
to headline earnings per share of 48.4 cents for the six months ended 31 December 2022.

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

Cape Town
23 January 2024




                                           Sponsor
                               AcaciaCap Advisors Proprietary Limited

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.