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Trading statement in respect of the year yo June 2012
FirstRand Limited
(Incorporated in the Republic of South Africa)
(Registration No: 1966/010753/06)
ISIN: ZAE000066304
JSE Share Code: FSR
NSX Share Code: FST
(“FirstRand or “the Group”)
TRADING STATEMENT IN RESPECT OF THE YEAR TO JUNE 2012
INTRODUCTION
In terms of paragraph 3.4(b) of the Listings Requirements of the
JSE Limited, an issuer is required to publish a trading
statement as soon as it becomes apparent that earnings per share
for the next period to be reported on are expected, with a
reasonable degree of certainty, to differ by at least 20% from
those of the previous corresponding period.
NORMALISED EARNINGS
As previously communicated to shareholders, FirstRand considers
diluted normalised earnings per share from continuing operations
to most accurately represent operational performance and this is
expected for the twelve months to June 2012 to increase by
between 22% and 27% from 179.4 cents in the comparative period.
HEADLINE EARNINGS
Headline earnings are expected to increase by between 24% and
29% from 183.1 cents per share in the comparative period.
NON RECURRING PRIOR PERIOD EVENTS
As a result of the unbundling of the Momentum Group, which was
effective 30 November 2010, a significant non-recurring gain
arose as a dividend in specie to FirstRand shareholders at fair
value in terms of IFRIC 17: Distributions of Non-Cash Assets to
Owners. This once-off gain was disclosed in the Group’s income
statement for the twelve months to June 2011. As this gain does
not arise from the performance of the Group’s continuing
operations, it does not recur in the income statement for the
year ended 30 June 2012.
Consequently if this item is excluded, earnings per share for
the year ended 30 June 2012 will not differ by more than 20%
from the previous comparative period.
Shareholders are advised that the financial information on which
this trading statement is based has not been reviewed and
reported on by the Group’s external auditors. FirstRand’s
results for the year to June 2012 will be released on SENS on or
about Tuesday 11th September 2012.
Sandton
4 September 2012
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 04/09/2012 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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