Real People Investment Holdings Limited Preliminary Financial Update: Fourth quarter reduced impairment charges
Real People Investment Holdings Limited (RPIH) anticipates to release its 2021 annual results by no later than 30 June 2021.
RPIH and its subsidiary companies (the Group) has maintained loan book valuation hair-cuts for Covid-19 on a forward looking basis to estimate and account for loan book performance risks.
Loan book collections performance during the year to 31 March 2021 has been better than forecast during the peak of the Covid-19 pandemic. It is therefore likely that the impairment charges will be lower than previously expected and that the profit after tax will improve to a meaningful extent for the year to 31 March 2021 when compared to normalised operating results in prior years.
The annual results for 2021 are not yet audited, and hence the numbers may be changed.
* * * * * * *
For further information, please contact:
Neil Grobbelaar, Group Chief Executive Officer
Phone number: +27 82 772 5481
This information is information that RPIH is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on April 30th, 2020 at 13:00 CET
Important notice about forward-looking information
This press release includes forward-looking information and statements concerning the outlook of the company. These statements are based on current expectations, estimates and projections about the factors that may affect the company’s future performance, including the future impact of COVID-19, global economic conditions, macro-economic conditions and the economic conditions of the regions and industries that are major markets for RPIH. These expectations, estimates and projections are generally identifiable by statements containing words such as “anticipates”, “expects”, “believes”, “estimates”, “plans”, “targets” or similar expressions. However, there are numerous risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets. Many of the factors that could cause such differences are identified and discussed from time to time in the company’s quarterly reports. Even though RPIH believes that its expectations reflected in any such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.
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