Engen Botswana Ltd anticipates HY22 PBT to be between 100%-110% higher than year prior

By Published On: September 26th, 2022Categories: Corporate announcement

In line with Section 5.4c of the Listing Requirements of the Botswana Stock Exchange (BSE), issuers must publish a cautionary announcement as soon as they are satisfied that a reasonable degree of certainty exists that the expected profit or loss (before tax) for the period to be reported upon next will differ by at least 10% from the financial results for the previous corresponding period. Accordingly, the shareholders of Engen Botswana Limited are advised that the profit before tax for the half year ended 30 June 2022 will be between 100% to 110% or P174.7 to P192.4 million respectively higher than the P174.7 million reported for the half year ended 30 June 2021.

This is mainly attributable to improved business activity that occurred subsequent to the State of Public Emergency that was in force for the greater part of 2021 and the significant increase in global crude oil prices during the period. As a result, the gross profit has increased between 85% to 88% from P226.2 million reported for the half year ended 30 June 2021.

Shareholders are advised to exercise caution when trading in the Group’s securities until such time as a detailed announcement is made. Summary results for the half year ended 30 June 2022 are expected by 30 September 2022.

By Order of the Board
Dr S Ndzinge
22 September 2022


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