REIZ | Trading Statement FYE 31 December 2022

By Published On: March 17th, 2023Categories: Corporate announcement, Earnings

In accordance with the Lusaka Securities Exchange Limited (“LuSE”) Listings Requirements, the Board of Directors advises the Shareholders of Real Estate Investments Zambia PLC (“the Company”) that for the year ended 31 December 2022, the basic earning per share is expected to be between 100% to 120% higher than for the corresponding period last year.

The increase in earnings is primarily attributed to the the good financial performance as a result of reduced finance costs and a gain on the fair values of the Investment Properties which was as a result of increased occupancy. The reduction in the finance costs was as a result of a lower average United States Dollars exchange rate during the financial year 2022 as compared to the prior year.

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 year ended 31 December 2022 to be released on SENS and published in the local press on or about 17th March 2023. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s Securities until the publication of the results.

Louis Chilufya Pulu
Finance Manager and Company Secretary

Issued in Lusaka, Zambia on 15 March 2023

Lusaka Securities Exchange Sponsoring Broker
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Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

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