Meikles Ld Trading Update

 
TIDMMIK 
 
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 
 
 
 
END 
 

(END) Dow Jones Newswires

September 12, 2018 04:07 ET (08:07 GMT)