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Trading statement for the year ending 28 February 2015
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
Share code: ADR & ISIN: ZAE000000139
("Adcorp" or "the Group")
TRADING STATEMENT FOR THE YEAR ENDING 28 FEBRUARY 2015
In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading
statement as soon as a reasonable degree of certainty exists that the financial results for the period
to be reported upon next will differ by at least 20% from the financial results for the previous
corresponding period.
Adcorp shareholders are advised that the Group expects an improvement of at least 20% in both
headline earnings per share (“HEPS”) (which equates to an increase of at least 37.7 cents) and
earnings per share (“EPS”) (which equates to an increase of at least 35.4 cents) for the year ending
28 February 2015 when compared to HEPS of 188.6 cents and EPS of 176.9 cents reported in the
previous year. The increase is as a consequence of a once-off International Financial Reporting
Standards (IFRS) requirement of R87 million, non cash flow share based payment charge to the prior
year profits arising from the 2013 BBBEE deal that was finalised, implemented and previously
reported with effect from 27 August 2013.
Further guidance on the expected ranges for HEPS, EPS and normalised earnings per share for the
year ending 28 February 2015 will be provided when a reasonable degree of certainty exists.
This trading statement has not been reviewed and reported on by Adcorp’s auditors.
6 February 2015
Bryanston
Sponsor: Deloitte & Touche Sponsor Services (Pty) Ltd
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