MASONITE (AFRICA) LIMITED - Further trading update

Further trading update

Masonite (Africa) Limited
(Incorporated in the Republic of South Africa)
(Registration number 1942/015502/06)
Share Code: MAS ISIN: ZAE000004289
("Masonite" or “the company”)

FURTHER TRADING UPDATE

Further to the trading update released on SENS on 15 December
2014, shareholders are now advised that the company expects
basic and diluted earnings per share for the period 31
December 2014 to be between 30% and 40% lower, and headline
and diluted headline earnings per share to be between 40% and
50% lower than the prior comparative period.

The ranges are as follows:

-   basic earnings per share between 315c and 325c (2013:
    501c);
-   headline earnings per share between 280c and 290c (2013:
    500c);
-   diluted earnings per share between 315c and 325c (2013:
    500c); and
-   diluted headline earnings per share between 280c and 290c
    (2013: 500c).

The discrepancy in earnings, compared to the previous trading
update, is mainly due to the higher than estimated increase in
fair value of biological assets as at 31 December 2014.

The abovementioned information has not been reviewed and
reported on by the company’s external auditors. Masonite’s
results for the year ended 31 December 2014 are expected to be
released on or about 26 March 2015.


Durban

09 March 2015


Sponsor

Nedbank Capital

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