The Group announces that for the year ending 30 September 2021, revenue (reported in USD) is expected to be inline with current market expectations. However, EBITDA, EBIT and adjusted Profit Before Tax* are now expected to end 20% - 30% ahead of current market expectations (all reported in USD).
Despite the difficult operating environment resulting from the 2020 economic and Covid-19 related uncertainties, the encouraging first half period performance has been driven by a focus on revenue optimisation. The macroeconomic relative stability witnessed in the first half year period is expected to continue during the second half. The exchange rate has depreciated at a much slower rate while monetary supply in the economy has steadily improved. The good rainfall season and the commissioning of power projects is expected to help alleviate the load shedding situation and positively impact on performance in the second half of the financial year.