DISTRIB. AND WAREHOUSING NETWORK LD - Trading statement

Trading statement

Distribution and Warehousing Network Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/008265/06)
Share code: DAW & ISIN code: ZAE000018834
(“DAWN” or “the Group”)

Trading Statement

In compliance with section 3.4(b) of the JSE Listings Requirements, 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 be more than 20% different from that of the
previous corresponding year.

DAWN shareholders are advised that, for the year ended 30 June 2014, the Group expects:
  - Headline earnings per share (“HEPS”) to decrease by between 23%-28% to 50,9
     cents per share to 47,6 cents per share compared to HEPS of 66,1 cents per share
     for the previous corresponding year; and
  - Earnings per share (“EPS”) to decrease by between 50%-55% to 33,4 cents per
     share to 30,0 cents per share compared to the EPS of 66,7 cents per share in the
     previous corresponding year.

The Building segment performance was impacted by the additional pressure on the
consumer as well as the sharp drop in the GDP during the second half. The results also
include the impairment of goodwill on Dawn Kitchen Fittings as well as an impairment of the
minority equity investment in the Nigerian-based trading operation.

Infrastructure businesses continued to perform in line with expectations.

The Group’s results will be published outside the allowed three month period in terms of the
JSE Listings Requirements, taking into account the complexities of accounting treatment and
disclosure of the Grohe transaction which was announced on SENS on 18 August 2014. The
JSE Limited has been consulted in this regard and the Group`s results for the year ended 30
June 2014 will be released on SENS on or about 14 October 2014.

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

Johannesburg
1 October 2014
Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited

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