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MOR - Morvest Business Group Limited - Trading Update

Release Date: 05/07/2011 14:33
Code(s): MOR
Wrap Text

MOR - Morvest Business Group Limited - Trading Update Morvest Business Group Limited (Previously Simeka Business Group Limited) (Incorporated in the Republic of South Africa) (Registration No. 2003/012583/06) Share code: MOR ISIN code: ZAE000152567 ("Morvest" or "the company") TRADING UPDATE Morvest shareholders are advised that for the 12 month period ended 31 May 2011 the company expects: - revenue to be between 15% and 20% higher than for the 12 month period ended 31 May 2010; - headline earnings after tax to be between 15% and 20% higher than for the 12 month period ended 31 May 2010; - headline earnings per share to be between 6.0 cents and 6.5 cents per share; - headline earnings per share (diluted weighted in issue and to be issued) to be between 5.0 cents and 5.5 cents per share; - earnings per share up from the prior year loss of 44.7 cents per share to between 3.0 cents and 3.5 cents; - actual cash on hand as at 31 May 2011 of R85 million. The financial results on which this trading update has been based have not been reviewed or reported on by the company`s auditors. This trading update is not required in terms of the JSE`s Listings Requirements and has been released by the company as a voluntary shareholder communication. The financial results of the company will be published on SENS on or about 17 August 2011. 5 July 2011 Sponsor Sasfin Capital (A division of Sasfin Bank Limited) Date: 05/07/2011 14:33:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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