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 29 February 2020 is expected to be materially higher than the prior period to 28 February 2019, by approximately 91% (P17.8m). Profits before tax in the prior period were P19.6m.
The primary reason for this increase is the effect of period end foreign exchange differences on translating foreign balances into Botswana Pula. These are showing a profit on exchange in the current period and were a loss on exchange in the prior period. Kindly note that these foreign exchange differences are a non-distributable line item.
In line with BSE rules, the Company will publish the unaudited financial results for the period ended 29 February 2020 by 31 May 2020.
Accordingly, linked unitholders are advised to exercise caution when dealing in their securities.
For and on behalf of the Board:
A L Kelly