In accordance with the Lusaka Securities Exchange Limited (“LuSE”) Listings Requirements, the Board of Directors advises the shareholders of CEC (“the Company”) that for the twelve months ended 31st December 2017, the basic earnings per share is expected to be 139% and 143% higher than those for the twelve months ended 31st December 2016 based on Zambian Kwacha (ZMW) and United States Dollar (USD) results respectively.
The movement in earnings is primarily attributed to the normalization of the Company’s earnings following the impairment of the CEC Africa investment and receivable of ZMW1.6 billion in 2016.
Shareholders are advised that the information contained in this trading statement has not been reviewed or reported on by the external auditors of the Company.
The Company expects its results for the 12 months ended 31st December 2017 to be released on SENS and published in the local press on or about 15 th March 2018. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.
By order of the Board
Julia C Z Chaila (Mrs)
Issued in Lusaka, Zambia on 14 March, 2018
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