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Trading statement and restatement of previously reported financial information
NU-WORLD HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1968/002490/06)
Share Code: NWL ISIN code: ZAE000005070
(“Nu-World” or “the Group” or “the Company”)
TRADING STATEMENT AND RESTATEMENT OF PREVIOUSLY REPORTED FINANCIAL
INFORMATION
In accordance with paragraph 3.4(b) of the Listings Requirement of the JSE Limited, companies are
required to inform shareholders as soon as there is a reasonable degree of certainty that the
earnings of the company are likely to vary by more than 20% compared to the previous reporting
period.
Shareholders are advised that Nu-World, for its year ended 31 August 2014, is expecting an
increase in earnings per share (“EPS”) of between 100% and 110% (between 340.4 cents and
357.42 cents) in comparison to that of the prior comparative period of 170.2 cents and an increase
in headline earnings per share (“HEPS”) of between 50% and 60% (334.59 cents and 356.90 cents)
compared to the previous corresponding reporting period of 223.06 cents as restated below. The
Group has enjoyed solid trading results over the period.
The financial information on which this trading statement has been based has not been reviewed or
reported on by the Group’s auditors. The Group’s results for the year ended 31 August 2014 are
expected to be published on or about 22 October 2014.
Arising from the JSE Limited’s pro-active monitoring of financial statements, the directors wish to
inform shareholders that headline earnings, headline earnings per share and diluted headline
earnings per share as disclosed in the Company’s annual financial statements for the year ended 31
August 2013 (‘’2013 AFS’’) were understated.
The misstatement arose following the omission of the taxation effects of these adjustments and the
resulting effect on non-controlling interest. Details of the restated headline earnings, headline
earnings per share and diluted headline earnings per share are set out below.
Restated As presented
in 2013 AFS
R’000 R’000
Basic earnings 36 457 36 457
Adjusted for:
IAS 16 Gains on disposal of PPE
Gains on disposal of property, plant and equipment in
Nu-World Australia Proprietary Limited (20 992) (20 992)
Loss on disposal of PPE from continuing operations 285 -
(20 707) (20 992)
IAS 38 Impairment of intangible assets included in
operating expenses on discontinued operations
Intellectual property impairment 14 155 14 155
Goodwill impairment 22 381 22 381
Net impairment loss 36 536 36 536
Effects of foreign exchange on impairment (2 960)
IFRS 10 Gain on disposal of share in Golf & Sport -
Proprietary Limited (4 448) (4 448)
32 088 29 128
Total taxation effects of adjustments 7 552 -
Total non-controlling interest effects of adjustments (7 613) (3 307)
Headline earnings 47 777 41 286
Headline earnings per share (cents) 223.06 192.8
Diluted headline earnings per share (cents) 213.78 184.7
29 September 2014
Johannesburg
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 29/09/2014 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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