BCX - Business Connexion Group Limited - Trading Statement

BCX - Business Connexion Group Limited - Trading Statement                      
Business Connexion Group Limited                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number 1988/005282/06)                                            
Share code: BCX                                                                 
ISIN: ZAE000054631                                                              
("BCX" or "the Company" or "the group")                                         
TRADING STATEMENT                                                               
BCX is currently finalising its results for the six months ended 28 February    
2011 ("the period").                                                            
Shareholders are advised that the group expects diluted earnings per share      
("EPS") and diluted headline EPS for the period to be between 9.0 cents and 10.0
cents respectively, compared to 40.1 cents and 40.3 cents for the comparative   
six month period to 28 February 2010.                                           
The main reason for the decline in earnings is the delay in infrastructure and  
project spend in the first half which impacted all business units as well the   
issue of 41 092 438 ordinary shares as part of the group`s Black Economic       
Empowerment ("BEE") transaction approved by shareholders on 8 September 2010.   
The results include an IFRS 2 share based payment cost amounting to R6.1 million
as well as the dilution resulting from the additional shares in issue.          
The group has also incurred transaction expenses amounting to R6.2 million      
relating to the proposed transaction with UCS Group Limited and other related   
merger and acquisition activity costs totalling R4.4 million.                   
While management anticipated that the first half would be challenging, Cloud and
Professional services continue to perform well.                                 
The above information has not been reviewed and reported on by the Company`s    
external auditors.                                                              
BCX`s results for the period are expected to be released on SENS on Thursday 14 
April 2011.                                                                     
Midrand                                                                         
22 March 2011                                                                   
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 22/03/2011 12:50:00 Supplied by www.sharenet.co.za                     
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