Buka Investments Reports 29%-39% Improvement in FY2024 Losses

  • Buka Investments expects basic and headline loss per share of 17.00 to 20.00 cents.
  • This marks a 29% to 39% improvement from the previous year's 28.01 cents.
  • The full-year financial results will be released in early July 2024.

Buka Investments Limited (JSE: BKI) has announced a significant reduction in its financial losses for the year ended February 29, 2024.


Key Financial Highlights

Buka Investments Limited has issued a trading update revealing notable improvements in its financial performance. The key highlights are as follows:

  • Basic Loss per Share (LPS): Expected between 17.00 and 20.00 cents.
  • Headline Loss per Share (HLPS): Expected between 17.00 and 20.00 cents.
  • Percentage Improvement: Improvement of 29% to 39% compared to the previous period’s 28.01 cents.

Overview of Financial Performance

Buka’s basic loss per share (LPS) and headline loss per share (HLPS) are projected to be between 17.00 and 20.00 cents. This marks a substantial improvement of between 29% and 39% compared to the LPS and HLPS of 28.01 cents from the corresponding period.

Table 1: Financial Performance Comparison

Financial MetricFY2023 (cents)FY2024 (Expected) (cents)Improvement (%)
Basic Loss per Share (LPS)28.0117.00 – 20.0029% – 39%
Headline Loss per Share (HLPS)28.0117.00 – 20.0029% – 39%

Background and Context

In accordance with the JSE Limited Listings Requirements, companies must issue a trading statement when financial results are expected to differ by more than 20% from the previous period. Buka has met this requirement by issuing this update ahead of the release of its full-year results.

Auditor’s Statement

It is important to note that the financial information presented in this trading update has not been reviewed or audited by Buka’s auditors. The final audited financial results are expected to be released in the first week of July 2024.

Market Expectations and Implications

The narrowed losses are likely to be well-received by investors and analysts. The company’s efforts to improve its financial standing are evident in the significant reduction in losses. This positive trend could boost investor confidence and potentially impact Buka’s stock performance on the JSE.

Table 2: Expected Financial Results Timeline

EventDate
Financial Year-End29 February 2024
Trading Update Release27 June 2024
Expected Full-Year Results ReleaseFirst week of July 2024

Conclusion

Buka Investments Limited’s trading update highlights a significant reduction in losses for the year ended February 29, 2024. With basic and headline losses per share expected to be between 17.00 and 20.00 cents, the company shows a marked improvement from the previous period.


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