In accordance with the Lusaka Stock Exchange (“LuSE”) Listings Requirements, the Board of Directors of Zambia Sugar PLC (“the Company”) hereby advises the Shareholders of the Company that the Earnings per Share for the six-month period ended 28 February 2022 is expected to be approximately 138.08 ngwee per share compared to 183.01 ngwee for the six-month period ended 28 February 2021.
The 24% change in earnings is attributable to an increase in costs, lower production and a reduction in export revenue following lower sales into the regional export markets.
Shareholders are advised that the information contained in this Trading Statement has not been reviewed nor reported on by the external auditors of the Company.
The Company expects its results for the six-month period ended 28 February 2022 to be released on SENS and published in the local press on or about Monday 23 May 2022. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s Securities until publication of the results.
By Order of the Board
Issued in Lusaka, Zambia on 20 May 2022