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Trading statement
MMI Holdings Limited
Incorporated in the Republic of South Africa
Registration Number: 2000/031756/06
JSE share code: MMI
NSX share code: MIM
ISIN: ZAE000149902
("MMI" or the "group")
Trading statement in terms of the JSE Listings Requirements
MMI will be releasing interim results for the six months ended 31
December 2013 on 5 March 2014.
Shareholders are advised that the group’s diluted earnings per
share and diluted headline earnings per share are expected to be
up between 20 and 30 percent on the corresponding financial period
of 2013 while diluted core headline earnings is expected to be up
between 10 and 15 percent.
Core headline earnings is a measure of performance used by MMI in
addition to earnings and headline earnings. Core headline
earnings is regarded by the directors of MMI as an appropriate
measure of longer-term operational performance, given that items
of both a once-off and an inherently volatile nature are
eliminated. These items include changes to the valuation basis,
investment variances, fair value movements on shareholder assets
and the amortisation of any intangible assets recognised due to
business combinations.
The increase in earnings and headline earnings in the current
period relative to the increase in core headline earnings is
largely due to increased fair value movements on shareholder
assets and investment variances.
The financial information on which this trading statement is based
has not been reviewed and reported on by MMI’s external auditors.
Centurion
20 February 2014
Sponsor:
Merrill Lynch South Africa (Pty) Ltd
Date: 20/02/2014 03:54:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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