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Marshall Monteagle PLC Foresees Substantial Profit Decline Amid Currency Challenges and Trade Losses

Marshall Monteagle
  • Marshall Monteagle PLC expects a significant decline in financial results for the year ended 31 March 2023.
  • Anticipated figures include a headline loss per share of approximately R42.78, compared to a previous earnings per share of approximately R147.54.
  • Factors contributing to the projected decline include the depreciation of the South African Rand, inflationary pressures, and losses in certain South African trading subsidiaries.

Marshall Monteagle PLC (Registration number: 102785), a Jersey-incorporated company listed on the JSE Limited with the JSE code MMP and ISIN JE00B5N88T08, has issued a trading statement indicating a significant decrease in its financial results for the 12-month period ended 31 March 2023 compared to the previous comparable period.

In accordance with the JSE Limited Listings Requirements, companies are obligated to release a trading statement when they become reasonably certain that the financial results for the upcoming reporting period will differ by at least 20% from those of the previous corresponding period. Marshall Monteagle PLC has fulfilled this requirement and provided its shareholders with a preliminary assessment of the expected outcomes for the Reporting Period.

The Company anticipates a headline loss per share of approximately R42.78 for the 12-month period, which stands in stark contrast to the headline earnings per share of approximately R147.54 reported for the 18-month Previous Comparable Period. This indicates a substantial decline in profitability. Furthermore, Marshall Monteagle PLC foresees earnings per share of approximately R11.21 for the Reporting Period, representing a significant 95% decrease compared to earnings per share of approximately R238.08 reported for the 18-month Previous Comparable Period.

Marshall Monteagle PLC attributes the projected decrease in financial performance to various factors, including the depreciation of the South African Rand against the United States Dollar, inflationary pressures, and losses incurred by some of its South African trading subsidiaries. The challenging economic environment has adversely affected the Company’s operations during the Reporting Period.

It is important to note that the financial information upon which this trading statement is based has not been reviewed or audited by the Company’s independent auditors. Shareholders can expect the provisional reviewed results for the year ended 31 March 2023 to be published around 21 June 2023. These results will provide a comprehensive and audited overview of the Company’s financial performance for the Reporting Period.

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