TRUSTCO GROUP HOLDINGS LIMITED - Trading Statement

Trading Statement

Trustco Group Holdings Limited
Incorporated in the Republic of Namibia
(Registration number 2003/058)
NSX share code: TUC
JSE share code: TTO
ISIN Number: NA000A0RF067
("Trustco" or “the Group”)


TRADING STATEMENT FOR THE FINANCIAL YEAR ENDED 31 MARCH 2017


In compliance with paragraph 3.4 of the JSE Limited Listing Requirements, shareholders are
advised that the Group is presently finalising its annual financial statements for the year ended
31 March 2017.


The Group expects to report:


  -    revenue for the year ended 31 March 2017 of between NAD 1.21 billion and NAD
       1.32 billion being an increase of between 5% and 15% compared to the financial year
       ended 31 March 2016 (“Prior Year”) revenue of NAD 1.15 billion;


   -   headline earnings per share (“HEPS”) for the year ended 31 March 2017 of between
       67.5 cents and 73.0 cents per share, being an increase of between 22.1% and 32%
       respectively compared to the Prior Year HEPS of 55.3 cents per share; and


   -   basic earnings per share (“EPS”) for the year ended 31 March 2017 of between 66.7
       cents and 72 cents per share, being an increase of between 20.4% and 30% respectively
       compared to the Prior Year EPS of 55.4 cents per share.


The operating segments contributed to the consolidated group’s performance as follows:

     - The Banking and Finance segment secured new funding in the amount of NAD 410
       million that was utilised to consolidate the advance book. The increase in net interest
       earned on student advances amounted to 12.4% and interest income on the advances in
       the property loan book increased by 100%.


   -   The Investment segment revenue grew by 20% and this segment’s net profit after tax
       grew by 39%. The Investment segment includes education, air charters, media services
       and real estate development.
   -   Insurance segment’s net profit after tax decreased by 9% whilst revenue decreased by
       20%;


   -   Resources segment reported an operating loss of NAD 16 million, while mining assets
       grew to more than NAD 481 million in the reporting year. The segment is believed to be
       a best fit in strategic opportunity to diversify the revenue stream of the group and at the
       same time, hedge group earnings against the fluctuation of the Namibian Dollar against
       the US Dollar.


     - Operational expenses across the group grew by a modest 3% from the previous
       reporting period.


Further details will be provided in the Group results, for the year ended 31 March 2017, which
will be released on or about 30 June 2017.


The financial information on which this trading statement is based has not been reviewed or
reported on by the Group’s auditors.


Windhoek, Namibia
29 June 2017


Amanda Bruyns
Company Secretary: Trustco Group Holdings Limited


JSE Sponsor: Sasfin Capital (A division of Sasfin Bank Limited)
NSX Sponsor: Simonis Storm Securities (Pty) Ltd

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