SPUR CORPORATION LIMITED - Trading statement

Trading statement

SPUR CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/000828/06)
Share Code: SUR & ISIN: ZAE000022653
("Spur" or "the company")

TRADING STATEMENT

Shareholders are advised that Spur is expecting to report growth of between
32% and 37% in earnings per share and headline earnings per share for the six
months ended 31 December 2012 (“the period”) compared to the previous
comparable period, being the six months ended 31 December 2011.

The company is expecting to report a growth in profit before income tax of
between 22% and 27% for the period and a growth in profit and headline
earnings of between 30% and 35%. The tax rate for the period has reduced
relative to the previous comparable period due to the abolishment of Secondary
Tax on Companies.

Shareholders are further advised that profit before income tax for the period
includes a charge of R8.590 million (2011: R1.211 million) in respect of the
group’s cash-settled share appreciation rights incentive scheme and a credit
arising from the related hedging instrument of R15.027 million (2011: R2.277
million). The net impact on profit before income tax is therefore a credit of R6.437
million (2011: credit of R1.066 million).

Excluding this impact, the contribution of the DoRego’s businesses acquired on 1
March 2012, as well as foreign exchange gains and losses and other one-off
items in both the current and previous comparable periods, the company is
expecting to report comparable growth in profit before income tax for the period
of between 14% and 19%.

The financial information on which this trading statement is based has not been
reviewed or reported on by the company’s auditors.   Spur’s unaudited
consolidated interim results for the period are expected to be published on 7
March 2013.

Cape Town
19 February 2013

Sponsor
SASFIN CAPITAL
A division of Sasfin Bank Limited

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