ZCCM Invs.Hldgs PLC ZCCM-IH 2023 Half Year Trading Statement (0186L)
August 31 2023 - 2:06PM
UK Regulatory
TIDMZCC
RNS Number : 0186L
ZCCM Invs.Hldgs PLC
31 August 2023
SENS ANNOUNCEMENT
(the "Announcement")
ISSUER
ZCCM INVESTMENTS HOLDINGS PLC ("ZCCM-IH")
Incorporated in the Republic of Zambia
Company registration number: 119540000771
Share Code: ZCCM-IH
ISIN: ZM0000000037
BROKER
Pangaea Securities Limited
[a member of the Lusaka Securities Exchange]
Regulated and Licensed by the Securities and Exchange Commission
Zambia
Telephone Number: +260 211 220707 | Website: www.pangaea.co.zm
AUTHORISATION
Approval for this Announcement has been granted by:
-- The Lusaka Securities Exchange ("LuSE")
-- The Securities and Exchange Commission Zambia ("SEC")
-- ZCCM-IH
DISCLAIMER AND RISK WARNING
The announcement contained herein contains information that may
be of a price sensitive nature.
Investors are advised to seek the advice of their investment
advisor, stockbroker, or any professional duly licensed by the
Securities and Exchange Commission of Zambia to provide securities
advice.
ISSUED ON: 31 August 2023
ZCCM INVESTMENTS HOLDINGS PLC
(Incorporated in the Republic of Zambia)
Registration number: 119540000771
Share code: ZCCM-IH
ISIN: ZM0000000037
TRADING STATEMENT
In accordance with the Lusaka Securities Exchange ("LuSE")
Listings Requirements, the Board of Directors of ZCCM Investments
Holdings Plc ("ZCCM-IH" or the "the Company") and its subsidiaries
(collectively referred to as "the Group") hereby advise the
Shareholders of the Company that the Earnings per Share ("EPS") for
the Half Year Ended 30 June 2023 for the Group and Company are
expected to be lower approximately 194.80% and 54.58%,
respectively, compared to the Half Year Ended 30 June 2022.
The Group's movement in EPS was primarily attributed to a
194.80% increase in losses to ZMW2.41 billion (USD125.84 million)
compared to ZMW817.35 million (USD47.70 million) in the six months
period ended 30(th) June 2022. This was underpinned by Mopani
Copper Mines Plc's contributed loss of ZMW4.02 billion (USD209.87
million). Mopani's underperformance is due to increased cost of
production, lower copper production, significant finance cost of
ZMW1.54 billion (USD 80.29 million) (2022: ZMW 563 million (USD
31.74 million), investment asset impairment and fair value
adjustment of ZMW6.7 billion (USD 302.8 million).
The Company's movement in EPS was attributed to a 54.58%
reduction in profit to ZMW551.49 million (USD28.80 million) from
ZMW1.21 billion (USD70.85 million) in 2022. The notable profit in
2022 was due to a substantial dividend payment from Kansanshi
Mining PLC of ZMW769.80 million (US$43.5 million), in the prior
year, which accounted for a significant portion of the revenue
collected. Additionally, profit after tax in the half-year period
2023 was adversely affected by an increase in the income taxes to
ZMW 222.2 million (US$ 11.63 million) from ZMW 2.4 million (US$ 131
thousand) recorded in 2022.
ZCCM-IH expects that the Unaudited Half Year Results for the
period ended 30 June 2023 to be released on the Securities Exchange
News Services ("SENS") and published in the local press on or about
1(st) September 2023. Accordingly, shareholders are advised to
exercise caution when dealing in the Company's Securities until
publication of the results.
Shareholders are advised that the information contained in this
trading statement has not been reviewed or reported on by the
external auditors of the Company.
By order of the Board
Charles Mjumphi
Company Secretary
Lusaka, Zambia - 31 August 2023
Sponsoring Broker
Pangaea Securities Limited
(Member of the Lusaka Securities Exchange)
(Regulated by the Securities and Exchange Commission)
______________________________________________________________
Tel: +260 (211) 220 707 or 238 709 / 16 Fax +260 (211) 220
925
First Floor, Pangaea Office Park, Great East Road, P.O. Box
30163 Lusaka, Zambia
First Issued: 31 August 2023
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END
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