Meikles Ld - Trading Update
12 September 2018 - 6:07PM
PR Newswire (US)
MEIKLES LIMITED
NOTICE TO SHAREHOLDERS
Audited financial results for the year ended 31 March 2018 were delayed as it was believed
finalisation of the settlement agreement with Government was to be
concluded before the end of August
2018. Regrettably, the Company is unable to include the
amount due from Government in the financial statements for the
financial year ended 31 March 2018.
The audited financial statements are now being finalised and will
be published within two weeks.
Government has committed itself to pay the amount due to the
Company and finalisation of the settlement agreement is under
way.
Shareholders are advised that short term loans from local banks
are to be converted to long term loans. The process is
expected to be complete by the end of December 2018.
TRADING UPDATE
Financial performance for the first three months of the
financial year to 31 March 2019
reflects a growth in turnover of 21 percent, an improvement in
EBITDA of 86 percent and an increase in profit before taxation of
321%.
T MPOFU
COMPANY SECRETARY
12 September 2018
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