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Trading Statement
VISUAL INTERNATIONAL HOLDINGS LIMITED
(Formerly Presto Financing Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2006/030975/06)
(“the Company” or “Visual”)
ISIN Code: ZAE000187407 Share code: VIS
TRADING STATEMENT
In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock
Exchange, listed companies are required to publish a trading statement as soon as they
become reasonably certain that the financial results for the next period to be reported on
will be more than 20% different from those of the previous corresponding period or from
a profit forecast previously provided to the market in relation to such period.
A review of the financial results for the six months ended 31 August 2014 has indicated
that the company will report a 50.9% improvement in the loss per share, from 6.48 cents
in the prior six month period ended 31 August 2013 to 3.3 cents per share. The headline
loss per share has, however, decreased by 109% from 1.58 cents per share in the prior
comparative period to of 3.3 cents per share.
Shareholders are reminded that the nature of property development results in lumpy
revenue recognition, as revenue is only recognised on the transfer of the property
through the deeds office and typically the company expects poor results in the middle of
the financial year.
Shareholders are also reminded of the delay in transfer of one of the properties ahead of
its listing, which delayed both the commencement of the property development known as
Stellendale 2 as well as the listing and capital raising. The board of directors are
assessing the impact of these delays as well as other potential property opportunities in
the pipeline to establish, with certainty, whether a trading statement will be required
against the profit forecast as contained in the Company’s prospectus for the year ending
28 February 2015.
The financial information, on which this trading statement is based, has not been
reviewed and reported on by the company’s auditors.
Johannesburg
26 November 2014
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
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