ENGEN BOTSWANA LIMITED | Stockbrokers Botswana Ltd |
(Incorporated in the Republic of Botswana) | Member of the Botswana Stock Exchange |
Registration number: BW00000748780 | |
Share code: Engen and ISIN: ENG - EQO |
TRADING STATEMENT FOR HALF
YEAR ENDED 30 JUNE 2023
In line with Section 5.4c of the Listing Requirements of the Botswana Stock Exchange (BSE), issuers must publish a cautionary announcement as soon as they are satisfied that a reasonable degree of certainty exists that the expected profit or loss (before tax) for the period to be reported upon next will differ by at least 10% from the financial results for the previous corresponding period.
Accordingly, the shareholders of Engen Botswana Limited are advised that the profit before tax for the half year ended 30 June 2023 will be between 80% to 90% or P291.9 million to P328.4 million respectively lower than the restated P364.9 million reported for the half year ended 30 June 2022. This is mainly attributable to the decrease in global crude oil prices during the period which resulted in a decline in inventory effects.
In addition, there was reduced business activity as a result of lower disposable incomes mainly as a result of high food and consumable prices in Botswana. As a result, the gross profit has decreased between 65% to 70% from the restated P418.3 million reported for the half year ended 30 June 2022.
Shareholders are advised to exercise caution when trading in the Group's securities until such time as a detailed announcement is made. Summary results for the half year ended 30 June 2023 are expected to be released by 30 September 2023.
By Order of the Board
Dr S Ndzinge
Chairman
21 September 2023
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Engen Botswana Limited published this content on 22 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2023 15:27:24 UTC.