PrimeTime Property Holdings (Botswana) – Trading Notice for Interim Results

By Published On: May 16th, 2022Categories: Corporate announcement

PrimeTime Property Holdings Limited (the Company) is a property investment company, which is listed on the Botswana Stock Exchange (BSE). The listing requirements of the BSE require the Company to announce any circumstances or events that have or are likely to have a material effect on the financial results of the Company for the period to be reported on next.

The Board of Directors of the Company would like to bring to the attention of linked unitholders that the consolidated profit before tax for the six months ended 28 February 2022 is expected to be materially higher than the prior comparable period to 28 February 2021, by approximately 297% (P32.4m). Profits before tax in the prior period were P10.9m.

Whilst the group’s operating profits before tax year on year are up (by 7%), the main reason for this increase is the effect of period end foreign exchange conversions of intercompany loans which are denominated in USD. Originating from the strength of the USD during this period, these reflect profits of P15.5m in the current period vs losses of P19.5m in the prior period. Kindly note that these foreign exchange adjustments are unrealised and a non-distributable line item, and do not affect the distribution of profits to linked unitholders.

The Company is expected to publish the interim financial results for the period ended 28 February 2022 by 31 May 2022.

Accordingly, linked unitholders are advised to exercise caution when dealing in their securities.

For and on behalf of the Board:

P Matumo
Chairlady
Gaborone, 11 May 2022


PrimeTime Property Holdings Limited (PRIMET.bw) on Africanfinancials

 

PrimeTime Property Holdings Limited (PRIMET.bw)

Share price: 185.00 Thebe (0.00 | 0.00% – 16/08/22)

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