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Trading Statement for the Year Ended 30 June 2026
TRELLIDOR HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1970/015401/06)
Share Code: TRL
ISIN Code: ZAE000209342
Main Board – General Segment
(“the Company” or “the Group”)
TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2026
BACKGROUND
Despite the financial year ended 30 June 2026 (“FY26”) being a challenging period, it was also a
year during which the Group took decisive action to transition to new leadership, simplify its corporate
structure, reset its cost base, strengthen its balance sheet and reposition the business for
sustainable future growth.
While the Group’s financial results were disappointing, and restoring profitability remains
management's immediate priority, the strategic progress made during the year has materially
improved the Group's focus and its capacity to pursue growth in its core markets.
The first eight weeks’ trading of the 2027 financial year has already shown improvement compared
to the corresponding prior period and recent months, providing early support for management’s
expectation that profitability and cash generation will strengthen as the benefits of the cost reduction
programme and growth initiatives are realised.
FINANCIAL POSITION
The Board remains confident in the Group’s financial strength, liquidity and ability to execute its
strategic objectives. The Group continues to maintain adequate funding capacity and financial
headroom, with sufficient resources to support ongoing operations, strategic growth initiatives and
working capital requirements. The restructuring actions implemented during FY26 have materially
improved the Group’s operating leverage and cash flow profile going forward.
FINANCIAL PERFORMANCE
The Company’s foremost strategic objective remains the accretion of shareholder value, and
shareholders are referred to the interim financial results for the six months ended 31 December 2025
published on SENS on 10 March 2026, detailing the second phase of this strategy dealing with cost
optimisation, which resulted in fixed cost savings of R13.9 million. These cost savings, which have
increased to R16.8 million following the Group’s executive management transition, have been
implemented through the second half of FY26, with the full benefit anticipated to be realised during
the next financial year ending 30 June 2027 (“FY27”).
The underlying UK market continued to show incremental growth during the year, measured from
the historical base (excluding the exceptional UK project completed in 2025 (“UK Project”)),
however, local demand understandably remained suppressed in the current uncertain SA residential
environment.
Encouragingly, the Group experienced increased demand in KwaZulu-Natal, the Free State and the
Western Cape in South Africa, which was supported by increased selling capacity through a
secondary distribution channel introduced during the year. East Africa also delivered growth, while
the underlying non-project-related revenue streams in the UK performed positively.
Demand for the Group’s products increased year-on-year in the South African commercial and retail
markets, showing notable growth. These areas demonstrate that demand for the Group's products
remains resilient where the appropriate selling capacity, market focus and distribution infrastructure
are in place.
This growth was, however, offset by underperformance in certain other regions. The Group
anticipated a significant decrease in earnings for FY26 compared to the prior corresponding period,
due to the non-recurrence of the R28.5 million gross profit contribution from the UK Project in the
earnings base. In addition, Gauteng and the Eastern Cape were particularly challenging, impacted
by difficult economic conditions, pressure on consumer and business confidence, municipal service
delivery challenges and, in the Eastern Cape specifically, continued pressure on the motor industry.
TRADING STATEMENT FOR FY26
In terms of the JSE Listings Requirements, a listed company is required to publish a trading
statement as soon as it becomes reasonably certain that the financial results for the next period to
be reported on will differ by 20% or more from the financial results for the previous corresponding
period.
Shareholders are advised that for FY26, the Group expects that:
- headline earnings will decrease, to headline losses per share of between 13.9 cents and
20.2 cents, compared to the headline earnings per share of 31.5 cents reported for the period
ended 30 June 2025 (“FY25”); and
- earnings will improve by 49% to 69%, to losses per share of between 12.8 cents and 21.1 cents,
compared to the loss per share of 41.7 cents reported for FY25.
The economic and operating environment remained challenging throughout FY26, with several
factors, including those listed below, impacting the Group’s financial performance:
- in the UK, project-related revenue declined as anticipated, representing the majority
contribution to the overall decrease in Company’s profits for the period;
- the R16.8 million annualised saving benefits from the Company-wide cost reduction program,
which could only be initiated during the second half of FY26, will only be realised through FY27;
and
- subdued consumer demand in South Africa, particularly in Gauteng and the Eastern Cape due
to depressed consumer sentiment, offset the increased demand in other parts of the country
and the commercial sales channel.
Improved trading at the start of FY27 compared to the corresponding prior period, is a promising
early indication that profitability and cash generation will strengthen as the benefits of the cost
reduction programme and growth initiatives are realised in the coming year. Early indications are
that the leadership transition is progressing smoothly as planned.
The financial information on which this trading statement is based has not been reviewed or reported
on by the auditor of the Company. The audited results for FY26 are expected to be published on or
about 11 September 2026.
Durban
21 August 2026
Sponsor
PSG Capital
Date: 21/08/2026 06:30:00
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