BRIEF-Kaap Agri Bedryf Employee and Farm Worker Bee Trust Says Rev Yet To Return To Previous Levels

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BRIEF-Kaap Agri Bedryf Employee and Farm Worker Bee Trust Says Rev Yet To Return To Previous Levels
Credit: © Reuters.

July 23 (Reuters) - Kaap Agri Bedryf Employee and Farm Worker Bee Trust KALJ.J :

* UPDATE ON THE IMPACT OF COVID-19 AND VOLUNTARY TRADING UPDATE FOR THE NINE MONTHS ENDED 30 JUNE 2020

* IMPACT OF COVID-19 ("COVID") HAS BEEN FELT ACROSS ALL GROUP'S BUSINESS UNITS

* TRADING IN LIQUOR CATEGORIES REMAINS RESTRICTED.

* REVENUE IS YET TO RETURN TO PREVIOUS LEVELS

* DURING Q3, FUEL PRICE REDUCTIONS RESULTED IN A GROUP COST OF R6.2 MILLION COMPARED TO A GAIN OF R6.9 MILLION LY.

* FULL LONGER-TERM IMPACT OF COVID IS STILL UNCERTAIN

* DECLINE IN FOOT TRAFFIC IS LIKELY TO HAVE AN ONGOING IMPACT ON EARNINGS FOR REMAINDER OF FY

* DECLINE IN FOOT TRAFFIC LIKELY TO HAVE AN ONGOING IMPACT ON OUR EARNINGS FOR REMAINDER OF YEAR

* WHEN COMPARING Q3 TO SAME PERIOD LAST YEAR, REVENUE DECREASED BY 19.6% & EXPENSES 8.4% LOWER

* LAST THREE MONTHS OF FINANCIAL YEAR WILL REMAIN CHALLENGING

* LAST THREE MONTHS OF FINANCIAL YEAR WILL REMAIN CHALLENGING

* Q3 HEADLINE EARNINGS, RECURRING HEADLINE EARNINGS ENDED 20.7% AND 18.1% DOWN RESPECTIVELY

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