CEC | Trading statement

By Published On: March 15th, 2017Categories: Corporate announcement

In accordance with the Lusaka Securities Exchange Limited (“LuSE”) Listings Requirements, the Board of Directors advises the shareholders of CEC Plc (“the Company”) that for the twelve months ended 31st December 2016, the basic earnings per share is expected to be 444% lower and 388% lower based on ZMW and USD results respectively when compared to the results covering the twelve months ended 31st December 2015.

The movement in earnings is primarily attributed to the impairment of the CEC Africa investment/receivable of ZMW1.6 billion.

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 2016 to be released on SENS and published in the local press on or about 15 th March 2017. 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)
Company Secretary

Issued in Lusaka, Zambia on 14th March, 2017

The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.

Copperbelt Energy Corporation Plc (CEC.zm)

Share price: 3.81 Kwacha ▲ (0.02 | 0.53% – 24/03/23)

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