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Trading statement
LIFE HEALTHCARE GROUP HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 2003/002733/06
ISIN: ZAE000145892
Share Code: LHC
(“Life Healthcare” or “the Company”)
TRADING STATEMENT
Further to the trading statement released on the Stock Exchange
News Service of the JSE Limited on 12 May 2014 as part of the
interim results announcement, shareholders are advised that Life
Healthcare’s earnings per share (“EPS”) for the year ended 30
September 2014 will be between 260cps and 270cps, a growth of
between 57% to 63% above the restated earnings per share for 2013
of 164.8cps.
This increase is largely due to the profit arising on Life
Healthcare’s disinvestment of its 49.3% shareholding in Joint
Medical Holdings Limited in February 2014.
Headline earnings per share (“HEPS”) for the year ended 30
September 2014 will be between 170cps to 180cps, a growth of
between 3% to 9% above the restated headline earnings per share of
164.8cps.
The directors believe that normalised earnings per share from
continuing operations best reflect the performance of the Company
and expect that normalised earnings per share* will be 8% to 14%
greater than those reported in the comparative period.
*Excludes profit/loss on disposals of businesses as well as
excluding non-trading related items and the effect of discontinued
businesses. The discontinued businesses contributed 11.5cps in
2013 compared to 5.2cps in 2014.
The Group has applied IAS 19 retrospectively in accordance with
the transitional provisions of the standard. The surplus on post-
retirement benefits will now be recognised in other comprehensive
income (OCI) and no longer through the statement of comprehensive
income. The result of this is that the EPS and HEPS for the
comparative period have been restated to 164.8cps and 164.8cps
from 169.7cps and 169.7cps, respectively.
The financial information on which this trading update is based
has not been reviewed and reported on by the Company’s external
auditors.
The Company expects to release its annual financial results for
the year ended 30 September 2014 on SENS on or about 14 November
2014.
Illovo
27 October 2014
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 27/10/2014 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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