04 Aug - 3 min read

Abridged report relating to the audited financial results for the year ended 28 February 2021

Abridged report relating to the audited financial results for the year ended 28 February 2021

HUGE GROUP LTD
(Registration number 2006/023587/06)
Share code: HUG ISIN: ZAE000102042
("Huge” or “Huge Group" or "the Group" or "the Company")

ABRIDGED REPORT RELATING TO THE AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2021

Shareholders are referred to the release of Huge Group’s reviewed condensed consolidated
provisional annual financial results (“Provisional Results”) on SENS on 31 May 2021 and the subsequent
announcement released on SENS on 14 July 2021 informing shareholders of the availability of the
Company’s integrated report, incorporating the audited annual financial statements (“Annual
Financial Statements”) and a ‘change statement’ outlining the impact of a change in an accounting
policy following the release of the Provisional Results. Huge hereby presents its abridged report relating
to the audited financial results for the year ended 28 February 2021 (“Abridged Results”).

SALIENT FEATURES
Extracted from the audited Group annual financial statements for the year ended 28 February 2021:

NORMALISED CONDENSED CONSOLIDATED ANNUAL RESULTS

                                                                       Audited                                   Audited
                                                                   28 February                               28 February
                                                                          2021                                      2020
                                                                   (12 months)                               (12 months)
 Figures in Rand                                                         R’000                                     R’000
 Revenue                                                               469 858                                   492 145
 Operating profit                                                      100 487                                   134 782
 Earnings per share                                                      44.52                                     57.58
 Headline earnings per share                                             48.72                                     57.03

The normalised condensed consolidated annual results (the Normalised Results) are the responsibility of the Board and are
provided to shareholders to illustrate the operating performance of the Group had the Group not had to raise the R34.61 million
IFRS2 share-based payment expense relating to the Executive Share Option Agreements. Due to its nature, it may not fairly
present the provisional results. A comprehensive analysis and explanation of the Executive Share Option Agreements is provided
in the 2021 Integrated Report.

CONDENSED CONSOLIDATED ANNUAL RESULTS

                                                                       Audited                                   Audited
                                                                   28 February                               28 February
                                                                          2021                                      2020
                                                                   (12 months)                               (12 months)
 Figures in Rand                                                         R’000                                     R’000
 Revenue                                                               469 858                                   492 145
 Operating profit                                                       65 877                                   134 782
 Earnings per share                                                      23.47                                     57.58
 Headline earnings per share                                             27.67                                     57.03
 Dividend                                                                  Nil                                       Nil

The condensed consolidated statement of comprehensive income includes the R34.61 million IFRS2 share-based payment
expense relating to the Executive Share Option Agreements. The Board is of the view that the expense is a non-cash IFRS charge
unrelated to the actual operating performance of the Group and therefore the Normalised Results presented is a better
representation of the Group’s operating performance.

SHORT FORM ANNOUNCEMENT

This short form announcement is the responsibility of the Board and is only a summary of the information
contained in the full announcement (the “Full Announcement”). The Abridged Results have been
extracted from the annual financial statements for the year ended 28 February 2021, which have been
audited by the Group’s auditor, Moore Johannesburg Incorporated, who expressed an unmodified
audit opinion thereon.

This short-form announcement does not contain full or complete details pertaining to the Group’s
results. Any investment decisions by investors and/or shareholders should therefore be based on
consideration of the Full Announcement which may be downloaded from the Group’s website at
www.hugegroup.com/huge-group-unlocking-business-opportunity-financials/ and may be viewed at
the registered offices of the Company and the Sponsor, at no charge, during office hours from the date
of this announcement for a period of 30 days. The Full Announcement is also available on the JSE’s
website at https://senspdf.jse.co.za/documents/2021/jse/isse/HUG/abrye2021.pdf.

Registered office
Unit 6, 1 Melrose Boulevard, Melrose Arch, Johannesburg, 2057

Johannesburg
04 August 2021

Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 04-08-2021 05:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

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