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Updated Trading Statement for the Year Ended 31 March 2026
Crookes Brothers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS ISIN: ZAE000001434
Main Board – General Segment
("Crookes Brothers" or the "Company" or the "Group")
UPDATED TRADING STATEMENT FOR THE YEAR ENDED 31 MARCH 2026
In terms of section 6.26 of the JSE Listings Requirements, a company is required to publish a trading statement
as soon as it becomes reasonably certain that the financial results for the period to be reported on will differ
by at least 20% from those of the previous corresponding period.
In terms of section 6.31 of the JSE Listings Requirements, if, after publication of a trading statement but before
publication of the relevant results, an issuer becomes reasonably certain that its previously published trading
statement is incorrect, then the issuer must publish an updated trading statement.
Shareholders are referred to the trading statement published on SENS on 12 June 2026 and are advised that
this updated trading statement reports a change to the expected basic loss per share and headline earnings
per share for the year ended 31 March 2026 reported therein, attributable to an increase in the loss for the
year and a corresponding reduction in the headline earnings for the year as a result of changes in deferred tax
balances relating to the Mozambique operations. The Company is therefore advising shareholders of the
following updated trading statement related to its financial performance for the year ended 31 March 2026:
The Company expects to report:
• a basic loss per share of 1 869.4 cents (compared to the earnings per share of 446.4 cents per share
reported for the year ended 31 March 2025); and
• a headline loss per share of 167.2 cents per share (compared to the headline earnings per share of 425.1
cents per share reported for the year ended 31 March 2025).
The expected headline loss per share is attributable to lower earnings across all the Group segments, primarily
due to pressure on sugar prices, delayed land sales, together with a capital impairment of R258.8 million in
the Macadamia segment. The impairment reflects the Macadamia operation's failure to achieve the anticipated
yields, compounded by a decline in macadamia prices to levels that rendered the business commercially
unsustainable. The impairment is excluded from the calculation of headline earnings and, accordingly, has no
impact on the headline loss per share.
The financial information on which this trading statement is based is the responsibility of the board of directors
of Crookes Brothers and has not been reviewed or reported on by the Group's independent external auditor.
The Company's results for the year ended 31 March 2026 will be published on or about 26 June 2026.
Durban
24 June 2026
JSE Sponsor to Crookes Brothers
Questco Corporate Advisory (Pty) Ltd
Date: 24-06-2026 02:40:00
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