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LABAT AFRICA LIMITED - Short form Announcement - Reviewed Consolidated Results for the Year Ended 31 August 2021

Release Date: 31/12/2021 12:15
Code(s): LAB     PDF:  
Wrap Text
Short form Announcement - Reviewed Consolidated Results for the Year Ended 31 August 2021

Incorporated in the Republic of South Africa
(Registration number 1986/001616/06)
JSE code: LAB ISIN: ZAE000018354
LEI number: LEI9845000R73DF5EE41J88
(“Labat” or “The company” or “the Group”)


Salient Features
Extracted from the reviewed condensed consolidated financial statements:

                                            31 August 2021      31 August 2020        Difference   Percentage
                                                  Reviewed             Audited
 Revenue                          R' 000s           29 270              40 251           (10 981)        -27%
 Operating Profit/(loss)          R' 000s            2 203             (14 570)           16 953        +116%
 Headline loss per share                              (6.5)              (12.3)              5.8         +47%
 -continuing                       cents              (6.5)              (15.8)              9.3         +59%
 -discontinued*                    cents                 -                 3.5              -3.5        -100%
 Earnings/(loss) per share                            (5.7)                3.1              -8.8        -284%
 -continuing                       cents              (5.7)              (16.4)             10.7         +65%
 -discontinued*                    cents                 -                19.5             -19.5        -100%
 Net Asset Value Per Share         cents              21.1                19.6               1.5          +7%

*Discontinued operations relate to the Fuel Businesses Force Fuel and Force Fuel Properties (Pty) Ltd

Short-Form Announcement
The short-form announcement is the responsibility of the directors. It is only a summary of the
information contained in the Reviewed Provisional Condensed Consolidated Financial Results for the
year ended 31 August 2021 (“Full announcement”) and does not contain full or complete details.
Any investment decisions by investors and/or shareholders should be based on a consideration of
the full announcement which is available on the Company’s website or can be
accessed via the following link:

The condensed provisional consolidated financial results of the Company and Group have been
reviewed by Nexia SAB&T. The auditors’ review report is available for inspection at the Company’s
registered office. The review conclusion is unmodified and is set out below:

“Based on our review, nothing has come to our attention that causes us to believe that the
condensed consolidated financial statements of Labat Africa Limited and its subsidiaries for the year
ended 31 August 2021 are not prepared, in all material respects, in accordance with the
requirements of the JSE Limited Listings Requirements for provisional reports, as set out in the basis of
preparation of the condensed consolidated financial statements, and the requirements of the
Companies Act of South Africa.”

The key audit matters will be incorporated into the audited financial results when published in
January 2022.
Copies of the full announcement may be requested from the Company ( or
inspected at the registered office and/or the Sponsors’ office, at no charge, during office hours.

For and on behalf of the board.

B G van Rooyen                                                                       GRI Walters
Chief Executive Officer                                                        Financial Director

31 December 2021

BG van Rooyen*, DJ O’Neill*, GRI Walters*, RM Majiedt^, R Rustum^, BA Penny^
Executive*, Independent non-executive^
Company Secretary: Light Consulting Proprietary Limited
Registered Address: 23 Kroton Avenue, Weltevreden Park, 1709
Sponsor: AcaciaCap Advisors Proprietary Limited
Transfer Secretary: Computershare Investor Services Proprietary Limited

Date: 31-12-2021 12:15:00
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