Sharenet Sites 
Sharenet Sites
Trading Update
Value Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1997/002203/06
Share code: VLE
ISIN code: ZAE000016507
(Value or the company)
TRADING UPDATE
In terms of the listings requirements of the JSE Limited, a listed company is required to
publish a trading update as soon as it becomes reasonably certain that the financial results
for the period to be reported on next will show a 20% or more difference from the previous
corresponding period.
Since January 2014, high unemployment rates, consumer debt exposure coupled with the
protracted strike action in various sectors has weakened the South African economy further.
This has led to negligible growth rates which have had a material impact on volumes and
demand for the Group’s services. As a result, the Group has had to contend with non-
sustainable rate pressure exacerbated by declining volumes and activity in the various
divisions. In addition to revenue pressures, statutory and inflationary increases have
resulted in operating and overhead costs escalating disproportionately to revenue.
Consequently, trading conditions for the 2015 interim period have proven to be extremely
challenging.
Accordingly, shareholders are advised that basic and headline earnings per share for the
interim period ended 31 August 2014 will be 70% to 90% lower than that achieved in the
previous corresponding period.
Various saving initiatives commenced early in 2014 to reduce operating costs and improve
profitability. Loss making contracts have been addressed. New management have been
appointed in key operational positions to further manage and streamline processes in order
to improve efficiencies and downscale costs.
The financial results, on which this trading update has been based, have not been reviewed
nor reported on by Value’s auditors. Further information will be provided in the results
announcement for the 6 months ended 31 August 2014 which will be published on or about
14 October 2014.
Johannesburg
25 August 2014
Sponsor:
Investec Bank Limited
Date: 25/08/2014 11:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
