MOR - Morvest Business Group Limited - Revised Trading Update

MOR - Morvest Business Group Limited - Revised 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")                                                    
REVISED TRADING UPDATE                                                          
Shareholders are referred to the trading update announcement released on SENS on
5 July 2011.                                                                    
In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited   
companies are required to publish a trading statement in the event that they are
satisfied that a reasonable degree of certainly exists that the earnings        
per share and headline earnings per share results will differ from the previous 
corresponding year-end by at least 20%.                                         
Morvest shareholders are advised that for the 12 month period ended 31 May 2011 
the company expects:                                                            
-    revenue to be between 15% and 19% higher than for the 12 month period ended
    31 May 2010;                                                                
-    headline earnings after tax to be between 15% and 19% 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  
    be between 2.0 cents and 2.5 cents;                                         
-    actual cash on hand as at 31 May 2011 of R84.5 million.                    
The financial results on which this trading update has been based have not been 
reviewed or reported on by the company`s auditors.                              
The financial results of the company will be published on SENS on or about 17   
August 2011.                                                                    
8 August 2011                                                                   
Sponsor                                                                         
Sasfin Capital                                                                  
(A division of Sasfin Bank Limited)                                             
Date: 08/08/2011 10:02:02 Supplied by www.sharenet.co.za                     
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