In terms of the JSE Limited Listings Requirements, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next period to be reported on will differ by 20% or more from the financial results for the previous corresponding period.
Shareholders are hereby advised that a reasonable degree of certainty exists that the Company expects to report:
- earnings per share of between 3.8 cents per share and 5.8 cents per share, being an increase in the earnings per share of between 139% and 159% for the year ended 31 December 2018, compared to a loss per share of 9.80 cents reported for the year ended 31 December 2017; and
- headline earnings per share of between 2.6 cents per share and 7.1 cents per share, being an increase in the headline earnings per share of between 111% and 131% for the year ended 31 December 2018, compared to a headline loss per share of 22.54 cents reported for the year ended 31 December 2017.
The reason for the increase in earnings per share and headline earnings per share in the current reporting period is mainly as a result of a settlement payment received from Charles Orbach and Company, a former auditor of R&E. The net asset value increased with 6 cents per share from R2.13 at 31 December 2017 to R2.19 at 31 December 2018.
The information contained in this trading statement has not been reviewed or reported on by the Company’s external auditors. R&E expects to release its financial results for the year ended 31 December 2018 on or about 25 March 2019.
15 March 2019