GROUP FIVE LIMITED - Trading Statement

Trading Statement

Group Five Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/000032/06)
Share code: GRF ISIN: ZAE 000027405
("Group Five" or "the Company" or "the group")



TRADING STATEMENT

Group Five shareholders are advised that, for the six months ended 31 December 2014, the
group expects:

    -   Fully diluted headline earnings per share (“FDHEPS”) to be between 40%- 50% lower
        (101 to 121 cents per share);
    -   Headline earnings per share (“HEPS”) to be between 40%-50% lower (102 to 122
        cents per share);
    -   Fully diluted earnings per share (“FDEPS”) to be between 35% - 45% lower (108 cents
        to 127 cents per share); and
    -   Earnings per share (“EPS”) to be between 35% - 45% lower (110 cents to 130 cents
        per share)


than the FDHEPS of 201 cents per share, the HEPS of 204 cent per share, the FDEPS of 196
cents per share and the EPS of 200 cents per share published for the previous corresponding
period.


RESULTS IN CONTEXT

The group’s Engineering and Construction cluster* performance for the period under review
was disappointing mostly as a result of a lower rate of trade in a number of segments, due
to a subdued order intake during the period; contract losses within Civil Engineering,
specifically on one contract experiencing operational difficulties as previously reported; and
restructuring costs incurred by the civil engineering segment.

The group’s Manufacturing cluster delivered a steady performance in flat markets whilst the
Investments and Concessions cluster delivered an improved result on the back of a good
performance from the European operations and fair value upward adjustments from the
group’s investment in service concessions.

Each segment’s performance is largely in accordance with the guidance provided at the
group’s management day with stakeholders (refer SENS release dated 17 th November 2014).



* refers to the clusters previously called “Construction” and “Engineering & Construction” which have, as
previously announced, been restructured into one cluster namely “Engineering & Construction”.
SIGNIFICANT NEW PROJECT AWARD – KPONE IPP, GHANA

The group is pleased to announce the award of Notice to Proceed on the Kpone
Independent Power Project to be constructed near Tema, Ghana. Group Five has been
awarded a circa US$400 million (R4.6 billion) EPC construction contract for this project with
the immediate commencement of contract mobilisation activities.

As a result of this award the, group’s Engineering and Construction order book has improved
materially from that reported on the 17th November 2014. Further detail will be provided at
the time of the group’s results release due on 11th February 2015.


REPORTING

The above information has not been reviewed or reported on by Group Five’s auditors. The
group's results for the interim period ended 31 December 2014 will be released on SENS on
11 February 2015 when the group will update the market on its business in a presentation in
Johannesburg on the same day, and in Cape Town on 12 February 2015. The presentation
will be available for all stakeholders on the group's website, www.groupfive.co.za.



Sandton
2 February 2015
Investment bank and sponsor
Nedbank Capital

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