In accordance with the Lusaka Securities Exchange Limited (“LuSE”) Listings Requirements, the Board of Directors of Real Estate Investments Zambia PLC (“REIZ” or “the Company”) hereby advises the Shareholders of the company that for the half-year period ending 30th June 2022 the basic loss per share is expected to be –ZMW0.16 compared to –ZMW4.33 for the half-year period ended 30th June 2021 and this represents an improvement of approximately 96%.
“The decrease in the loss per share is primarily attributed to the reduction in finance costs by 28% and an improvement in revenue by 3% over the corresponding prior year period. The appreciation of the kwacha and the stability in the exchange rate have positively resulted in the reduction of the operational costs as well as minimising the foreign exchange exposure,” the company announced on 27 September, 2022 through a statement issued by the Company Secretary.
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 period ending 30th June 2022 to be released on SENS and published in the local press on or about 29th September 2022. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s Securities until the publication of the results.
