B&W INSTRUMENTATION & ELECTRICAL LD - Trading Statement

Trading Statement

  B & W INSTRUMENTATION AND ELECTRICAL LIMITED
  Incorporated in the Republic of South Africa
( Registration number 2001/008548/06)
  Share code: BWI ISIN: ZAE000098687
  (“B&W” or “the Company”)

 TRADING STATEMENT



In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading
statement as soon as they become reasonably certain that the financial results for the period to
be reported on will differ by more than 20% from that of the previous corresponding period.

Accordingly, a review of the financial results for the year ended 31 August 2013 by management
has indicated that the earnings per share and headline earnings per share are expected to be at
least 20% lower, compared to the earnings per share and the headline earnings per share of
1.4 cents for the year ended 31 August 2012. A further trading statement will be released when
there is certainty on the earnings per share numbers.

It has been a year of two halves for B&W. Although the write downs of the Madagascar accounts
receivable amount in February 2013 are behind us, due to the magnitude of this amount, it has
still negatively affected the year ended 31 August 2013 results. However, with the second half of
the year being profitable, we remain confident of returning to profitability in the next financial
period.

The financial information on which this trading statement is based has not been reviewed or
reported on by B&W’s auditors. The Company’s financial results are expected to be released on
SENS on or about 18 November 2013.


Johannesburg
11 October 2013

Designated Adviser
Merchantec Capital

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