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FMBCH TRADING STATEMENT FOR PERIOD ENDING 31-DECEMBER -2020

In terms of the listings requirements of the Malawi Stock Exchange
Limited, a listed company is required to publish a trading statement as
soon as it is satisfied that a reasonable degree of certainty exists that the
financial results for the period to be reported next will differ by at least
20% from the financial results for the previous corresponding period.
FMBcapital Holdings Plc accordingly advises that its forecast profit after
tax for the year ending 31 December 2020 is projected to be more than
200% higher than was achieved for the same period 31 December 2019.
FMBcapital Holdings Plc projects that its forecast profit attributable to
shareholders for the year ending 31 December 2020 is estimated to be
over $12 million compared to a loss of $4.97 million for the same period
31 December 2019.
The Group’s current year performance is projected to normalise with the
Zimbabwe operations forecasting a profit, compared to the significant
loss of $29.5 million suffered in the prior year because of hyperinflation
and devaluation of the local currency. The performance of the other
businesses within the Group remains in line with expectations.
The information on which this trading statement is based has not been
reviewed or reported on by the Group’s external auditors. The
summarised consolidated and separate financial statements of the Group
for the year ending 31 December 2020 are expected to be published not
later than June 2021.

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