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Trading Statement
CROOKES BROTHERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS ISIN: ZAE000001434
(“Crookes” or “the company”)
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited relating to Trading Statements, a listed
company is required to publish a trading statement as soon as it becomes aware that the financial
results for the next period to be reported on will differ by at least 20% or more from those of the
previous corresponding period.
Shareholders are advised that the company expects that, for the twelve months ended 31 March
2015:
Earnings per share (“EPS”) are expected to be between 275.0 cents and 335.0 cents compared to
EPS of 1609.0 cents in the previous corresponding period, being the twelve months ended 31
March 2014 (“previous corresponding period”), a decline of between 79% and 83%.
Earnings in the previous corresponding period included capital profits on the disposal of assets and
earnings related to discontinued operations, which amounted to 975.9 cents per share.
EPS from continuing operations are expected to be between 275.0 cents and 335.0 cents
compared to EPS from continuing operations of 633.1 cents in the previous corresponding period,
a decline of between 47% and 57%.
Headline earnings per share (“HEPS”) are expected to be between 275.0 cents and 335.0 cents
compared to HEPS of 676.8 cents in the previous corresponding period, a decline of between 51%
and 59%.
The earnings decline is principally caused by a reduced Swaziland sucrose price, poor growing
conditions and strikes in Swaziland, and start-up problems at the development project in
Mozambique.
This is exacerbated by a lower year-end valuation of the Swazi cane crop and the deciduous fruit
crop with next year’s prices predicted to be lower than those of the current financial year.
The reduction in the Swaziland sucrose price is a consequence of a slump in European Union
(“EU”) market prices resulting from market rationalisation pending the termination of sugar quotas
in 2017.
The financial information on which this trading statement is based has not been reviewed or
reported upon by the company’s auditors.
The company’s results for the year ended 31 March 2015 are expected to be published on or about
2 June 2015.
Renishaw
24 March 2015
Sponsor
Sasfin Capital
A Division of Sasfin Bank Limited
Date: 24/03/2015 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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