In accordance with Section 3.4(b) of the Lusaka Securities Exchange Listings Requirements, the Board of Directors of Zambia Bata Shoe Company Plc (“Bata” or the “Company”) hereby advises the shareholders of the Company that the Earnings Per Share (“EPS”) for the financial year ending 31 December 2022 is expected to be approximately 897% higher than that of the corresponding period.
The movement in EPS for the Company is primarily attributed to an increase of around 36% in Revenue, an increase of around 757% in Profit Before Tax (“PBT”) and an increase of around 897% in Profit After Tax (“PAT”). The increases in Revenue, PBT and PAT were mainly attributed to retail business turnaround and marketing reactivation and advertisement which created a new sense of awakening of the “Bata” brand. Expenses were also optimised effectively with real time tracking and monitoring during the period.
The Company expects its results for the year ended 31 December 2022 to be released on the Securities Exchange News Service and published in the local press on or around 7 March 2023.
Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until publication of the results.