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Trading statement
Grand Parade Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1997/003548/06)
Share code: GPL
ISIN: ZAE000119814
("GPI" or "the company")
TRADING STATEMENT
In terms of the Listing Requirements of the JSE Limited, a listed company is required to publish a trading statement
as soon as it becomes aware that the financial results for the financial period to be reported on next will vary by 20%
or more from those of the previous comparable period.
GPI hereby advises that a reasonable degree of certainty exists that basic earnings per share for the six months ended
31 December 2012 will be between 60% and 70% lower than the 38.57 cents per share of the previous corresponding period and
headline earnings per share will be between 25% and 35% lower than the 19.87 cents per share of the previous corresponding
period.
It is important to note that the comparisons with the prior period include the effects of the transaction concluded with
Sun International Limited on 2 December 2011, which resulted in once off gains of no less than R 128.1 million in the previous
comparable period. These once-off gains include profit from the disposal of investments, realisation of fair value gains
relating to disposed investments and net cancellation fee income from the restructure of the SunWest (Pty) Ltd operating
management agreement.
In this context management considers adjusted headline earnings per shares as a more meaningful measure of performance as it
adjusts for the effects of these once off gains. With a reasonable degree of certainty, adjusted headline earnings per share is
expected to be 8% to 18% higher than the 14.12 cents per share of the previous corresponding period.
The financial information on which this trading statement is based has not been reviewed and reported on by GPI's external
auditors. The financial results for the period for the six months ended 31 December 2012 are expected to be published on or about
27 February 2013.
18 February 2013
Cape Town
Sponsor
PSG Capital (Pty) Ltd
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