Enhanced Investments - Financial Portal

Trading statement

Published: 2021-07-29 09:00:00 ET

Ellies Holdings Limited (JSE:ELI) News - Trading statement

ELLIES HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2007/007084/06)
JSE share code: ELI ISIN: ZAE000103081
(“Ellies” or the “Company”)


TRADING STATEMENT


In terms 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 accordingly advised that Ellies expects earnings of 7,25 cents per share for the year ended 30 April 2021
compared to a loss of 28,97 cents per share for the year ended 30 April 2020 and headline earnings of 9,19 cents per share
for the year ended 30 April 2021 compared to a loss of 18,66 cents per share for the year ended 30 April 2020.

The return to earnings is attributable to:
-     a marginal increase in revenue- the previous financial year included a six week period of hard-lockdown
      attributable to Covid-19;
-     an improved gross margin attributable to the disposal of slow moving and obsolete inventory at prices higher than
      its carrying value;
-     operating expense savings associated with the migration of transport, logistics and warehousing in Johannesburg to
      Value logistics; and
-     raising of deferred tax assets in light of the return to profitability.

The audited consolidated financial results for the year ended 30 April 2021 are anticipated to be released on or about 
30 July 2021.

The financial information on which this trading statement is based has not been reviewed or reported on by the
Company’s auditors.

29 July 2021


Sponsor
Java Capital

Date: 29-07-2021 11:00:00
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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.