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 six months ended 30th June 2019, the basic earnings per share and headline earnings per share, respectively, are expected to be 60% lower than for the six months ended 30th June 2018.
The reduction in earnings is primarily attributed to impairment of receivables arising from delayed and/or non-payment of power invoices by one of our customers.
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 6 months ended 30th June 2019 to be released on SENS and published in the local press on or about 28th August 2019. 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 Tuesday, 27 August 2019
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First Issued on 27 August 2019