CITY LODGE HOTELS LIMITED - Trading Statement

Trading Statement

CITY LODGE HOTELS LIMITED
“City Lodge”
(Reg. No. 1986/002864/06)
(Incorporated in the Republic of South Africa)
Share Code: CLH    ISIN Code: ZAE 000117792

TRADING STATEMENT

In terms of rule 3.4(b) of the JSE Listings Requirements, a
listed company is required to publish a trading statement as
soon as a reasonable degree of certainty exists that the
financial results for the next reporting period to be reported
on will differ by at least 20% from those of the previous
corresponding period.

In this regard basic earnings and diluted basic earnings per
share for the year ended 30 June 2014, which include the costs
and effects of the BEE deal, are anticipated to be between 25%
and 30% higher than the previous year.       Diluted headline
earnings per share are anticipated to be between 5% and 10%
higher than the previous year.

The difference between basic earnings and headline earnings
per share relates to the exclusion of the fair value gain of
R45 million on the re-measurement of the initial investment in
the Kenyan joint venture following the purchase of the
remaining 50% shareholding.

Normalised headline earnings, which excludes the costs       and
effects of the BEE deal, as well as the gain on the          re-
measurement of the investment in the Kenyan joint venture,   are
however anticipated to be between 9% and 14% higher than     the
previous year, whilst normalised diluted headline earnings   per
share are anticipated to be between 8% and 13% higher than   the
previous year.

The information on which this trading statement has been based
has not been reviewed or reported on by the group’s auditors
and it is anticipated that the results will be released on
SENS on or about 15 August 2014.


Bryanston
5 August 2014

Sponsor
JP Morgan Equities South Africa Proprietary Limited

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