In accordance with Section 3.4(b) of the Lusaka Securities Exchange Listings Requirements (“LuSE Listings Requirements”), the Board of Directors of AECI Mining Explosives PLC (“the Company” or “AECI”) (the “Board”) hereby advises the Shareholders of the Company that the Earnings Per Share (“EPS”) for the year ended 31 December 2022 is expected to be approximately 75% lower than for the year ended 31 December 2021.
The movement in EPS is largely attributable to a decrease in revenue and a corresponding decrease in material margins. Revenue figures were impacted by a drop in export sales. Material margin percentages were adversely affected by increased raw material prices. The fluctuation of the Kwacha to the US Dollar also contributed to the lower numbers reported in 2022 against the reported results in 2021.
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 9 March 2023. Accordingly, Shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results
