Taste - trading statement











The Company hereby advises that a reasonable degree of certainty exists that for the year ended 28 February 2019:
- losses per share will be between 34.0 cents and 35.8 cents, representing a decrease in the loss of between 30% and 33% compared to the loss of 51.0 cents reported for the year ended 28 February 2018; and
- headline loss per share will be between 24.8 cents and 26.4 cents, representing a decrease of between 37% and 41% compared to the headline loss per share of 41.8 cents reported for the year ended 28 February 2018.

The headline losses per share decreased mainly due to the increase in the weighted average shares, on the back of the rights issues of 422 222 223 and 1 320 000 000 shares that were concluded in January 2018 and February 2019 respectively, which diluted the headline loss. Using the same weighted average shares as in the prior year, the headline loss would have increased to between 48 cents and 50.4 cents, representing an increase in the headline loss per share of between 15% and 21%, mainly attributable to the prudent derecognition of deferred tax assets relating to the Food Division given the short-term uncertainty regarding the timing of generating taxable income.

Losses per share decreased by a smaller margin than the headline loss per share as a result of fair value adjustments that were excluded from the headline loss. Using the same weighted average shares as in the prior year, the loss would have increased to between 65.4 cents and 68.8 cents, representing an increase in the loss of between 28% and 35%

The audited condensed financial results for the year ended 28 February 2019 are expected to be published on or about 30 May 2019.





2019-05-24 15:05:04