Trading Statement for the year ended 31 March 2014
TRUSTCO GROUP HOLDINGS LIMITED
Incorporated in the Republic of Namibia
(Registration number 2003/058)
NSX share code: TUC
JSE share code: TTO
ISIN Number: NA000A0RF067
TRADING STATEMENT FOR THE YEAR ENDED 31 MARCH 2014
Shareholders are advised that the Group is presently finalising its
annual financial statements for the year ended 31 March 2014.
Total revenue for the Group grew by more than 35% from the previous
The Group expects:
- headline earnings per share for the year ended 31 March 2014
to be a minimum of 14.87 cents, which is 220% higher than the
headline earnings per share for the previous comparable
period, being the year ended 31 March 2013 (“previous period”)
of 4.65 cents; and
- basic earnings per share for the year ended 31 March 2014 to
be a minimum of 29.34 cents, which is 442% higher than the
basic earnings per share for the previous period of 5.41
The expected increase in earnings per share is mainly attributable
to the following key factors in the 2014 financial period:
- student loan book growth has driven increased profitability in
the education and student finance segments of the Group’s
business, whilst non-performing loans remain low;
- sales in the property segment of the Group’s business have grown
from the previous period and have contributed meaningfully to
Group earnings; and
- the Group’s Namibian insurance segment continues to grow
earnings at good organic rates, however the Insurance segments
outside of Namibia remain in loss making positions as expansion
Further details will be provided in the abridged audited group
results for the year ended 31 March 2014 and the annual integrated
report, due to be released on or about 27 June 2014.
The financial information on which this trading statement is based
has not been reviewed or reported on by the Group's auditors in
accordance with either 3.4b(viii)(1)(aa) or 3.4b(viii)(1)(bb) of the
Listings Requirements of the JSE Limited.
By order of the board
12 June 2014
(a division of Sasfin Bank Limited)
IJG (Pty) Limited
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