IMPERIAL HOLDINGS LIMITED - Voluntary Trading Statement

Voluntary Trading Statement

Imperial Holdings Limited
Registration number: 1946/021048/06
JSE share code: IPL
ISIN: ZAE000067211
(“Imperial” or “the group”)



                    VOLUNTARY TRADING STATEMENT


This trading statement is published in compliance with paragraph
3.4(b) of the JSE Listings Requirements.

Operating Profit, EPS, HEPS and Core earnings per share

Shareholders are referred to the guidance provided on the
publication of the group’s full year results on 27 August 2014
and to the CEO’s statement presented at the Annual General
Meeting and published on SENS on 4 November 2014.

The following provides further guidance on the expected decrease
in operating profit, earnings per share (“EPS”), headline
earnings per share ("HEPS") and core earnings per share ("Core
EPS") for the half year ended 31 December 2014:


                    6 months to       6 months to       6 months to
                   December 2013     December 2014     December 2014
                       Actual       Expected change       Expected
                                       percentage           Range
                                                      R2 913 to R2 818
Operating income   R3 166 million      - 8% to -11%
                                                                million
EPS                     898 cents      -16% to -19%   754 to 727 cents

HEPS                    831 cents      - 8% to -11%   765 to 740 cents

Core EPS                937 cents      -13% to -16%   815 to 787 cents

As expected and previously communicated, the decline in Operating
Income   is  attributable   to   Rand  weakness,   impacting   the
competitiveness   and  profitability   of  the   Vehicle   Import,
Distribution and Dealership division.

The core EPS number excludes significant non-operational items of
income and expenditure which are included in the reported EPS and
HEPS.

The EPS decline is higher than the HEPS decline due to the prior
year EPS benefiting from profits on the sale of businesses and
properties, which are excluded in arriving at HEPS.
The most significant difference between HEPS and Core EPS is a
once-off foreign exchange gain of 39 cents per share, which has
been excluded from the Core EPS.

The forecast financial information herein has not been reviewed
or reported on by Imperial's auditors. This update is based on
available information at the time of publication.

Imperial’s results for the 6 months to December 2014, including
an update on the group’s outlook for the full year performance to
June 2015, will be released on SENS on 24 February 2015.


RA Venter
Company Secretary
Bedfordview
9 February 2015

Sponsor to Imperial:
MERRILL LYNCH SOUTH AFRICA (PTY) LIMITED

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