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LITHA HEALTHCARE GROUP LIMITED - Trading statement

Release Date: 21/02/2014 11:29
Code(s): LHG     PDF:  
Wrap Text
Trading statement

LITHA HEALTHCARE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/006371/06)
Share code: LHG
ISIN: ZAE000144671
("Litha”)

TRADING STATEMENT

Litha is currently finalising its results for the financial year
ended 31 December 2013, which is scheduled for release on SENS on
or about 7 March 2014. In this regard, shareholders are advised
that earnings per share is expected to be between 80% and 100%
lower and headline earnings per share is expected to be between
40% and 60% lower than for the financial year ended 31 December
2012.

This decrease in     earnings   is   primarily   attributable   to   the
following factors:

  - the once-off profit of R171 529 531 recognised in 2012
    associated with the deconsolidation of the Biologicals and
    Vaccines Institute of Southern Africa Pty Ltd. This once-off
    profit was included in earnings per share for the financial
    year ended 31 December 2012(and not headline earnings per
    share) and represented 79% of the 2012 earnings before
    taxation; and
  - the continued devaluation of the South African Rand which
    increased the cost of imported products.

The financial information on which this trading statement is based
has not been reviewed and reported on by Litha’s external
auditors.

Midrand
21 February 2014

Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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