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 Mining”) (the “Board”) hereby advises the Shareholders of the Company that the Earnings Per Share (“EPS”) for the six-month period ended 30th June 2022 is expected to be approximately 77% lower than that of the corresponding half-year period ended 30th June 2021.
This reduction is due to the appreciation of the Zambian Kwacha against the United States Dollar by 21% compared to the corresponding period last year. This led to a 26% drop in revenues and increase in labour and other Kwacha denominated costs on translation. In addition, there was a reduction in export sales.
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 half-year ended 30th June 2022 to be released on SENS and published in the local press on or about 30th September 2022. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.
