CARGO CARRIERS LIMITED - Trading Statement

Trading Statement

CARGO CARRIERS LIMITED
(Registration Number 1959/003254/06)
Share code: CRG
ISIN: ZAE000001764
("CRG" or "the Company")


TRADING STATEMENT


In accordance with paragraph 3.4(b) of the Listings Requirement of the
Johannesburg Stock Exchange, shareholders are advised that for the six month
period ended 31 August 2014:

   -   Headline earnings per share (“HEPS”) are expected to reflect a decrease of
       between 45% (67.4 cents per share) and 55% (82.3 cents per share) when
       compared to the HEPS of 149.7 cents per share reported for the six month
       period ended 31 August 2013; and

   -   Earnings per share (“EPS”) are expected to reflect a decrease of between 40%
       (66.0 cents per share) and 50% (82.6 cents per share) when compared to the
       EPS of 165.1 cents per share reported for the six month period ended
       31 August 2013.

The expected decreases are attributable to a challenging operating environment
characterised by labour and strike action within South Africa and Swaziland as well
as foreign exchange losses which have impacted our Zambian subsidiary.

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

The Company expects its results for the six months ended 31 August 2014 to be
released on SENS on or about 30 October 2014.

Johannesburg
28 October 2014

Sponsors
Arbor Capital Sponsors Proprietary Limited

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