In accordance with the Lusaka Stock Exchange Limited (“LuSE”) Listings Requirements, the Board of Directors advises the Shareholders of Real Estate Investments Zambia PLC (“the Company”) that for the six months ended 30th June 2015, the basic earnings per share is expected to be 105% higher, and the headline earnings per share is expected to be 38% higher, than those for the six months ended 30th June 2014.
The material movement is primarily attributed to the 28% increase in rental income and the sale of shares in Burnet Investments Limited reported in other operating income. Profit before other income and profit after tax increased by 38% and 104% respectively despite the 19% increase in finance cost and the 51% increase in foreign exchange losses.
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 six months ended 30th June 2015 to be released on SENS and published in the local press on or about 31 August 2015. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.
Lusaka, Zambia – 31 August 2015
LUSAKA STOCK EXCHANGE SPONSORING BROKER
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