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Update to Voluntary Trading Statement for the Twelve Months Ended 31 December 2014
Standard Bank Group Limited
Registration No. 1969/017128/06
Incorporated in the Republic of South Africa
JSE share code: SBK
ISIN: ZAE000109815
NSX share code: SNB
NSX share code: SNB ZAE000109815
(“Standard Bank Group” or “the group”)
UPDATE TO VOLUNTARY TRADING STATEMENT FOR THE TWELVE MONTHS
ENDED 31 DECEMBER 2014
1. Introduction
Shareholders of Standard Bank Group (“Shareholders”) are
referred to the announcement dated 2 February 2015, which
included a voluntary trading statement for the year ended
31 December 2014.
2. Update to voluntary trading statement
The finalisation of the group’s annual financial statements
for the year ended 31 December 2014 remains under way. Our
analysis conducted on the effects upon the group’s Foreign
Currency Translation Reserve of internal restructuring
transactions relating to the simplification of the group’s
international structure prior to the disposal of control of
Standard Bank Plc indicates, with reasonable certainty, that
there will be a positive impact on earnings per share of the
group (both on a fully diluted and undiluted basis), as
determined under International Financial Reporting Standards
(“IFRS”) and on a normalised basis, that will result in each
case in a range that differs from the range published on 2
February 2015.
It is now anticipated that earnings per share of the group
(both on a fully diluted and undiluted basis) as determined on
an IFRS and a normalised basis for the financial year ended 31
December 2014 will exceed those reported for the financial
year ended 31 December 2013 by between 8% and 12%.
This reserve movement has no impact on headline earnings per
share measures. As the group completes its year end
processes, the anticipated change in headline earnings per
share on both an IFRS and a normalised basis remains within
the ranges previously indicated, but we are in a position with
reasonable certainty to reduce the range provided, to a range
of between -2% and 2%, as compared with the financial year
ended 31 December 2013.
Accordingly, the key financial performance measures for the
year ended 31 December 2014 reported on an IFRS and a
normalised basis are now expected to be within the following
ranges:
Minimum Maximum
Audited
year year
year
ended ended
ended 31
IFRS basis 31 31
December
December December
2013
2014 2014
(cents)
(cents) (cents)
Earnings per share (EPS)
1,034.4 1,117.2 1,158.5
Headline EPS (HEPS)
1,084.2 1,062.5 1,105.9
Diluted EPS
1,008.6 1,089.3 1,129.6
Diluted HEPS
1,057.1 1,036.0 1,078.2
Minimum Maximum
year year
Year ended ended
ended 31 31 31
December December December
Normalised basis 2013 2014 2014
(cents) (cents) (cents)
Earnings per share (EPS)
1,016.6 1,097.9 1,138.6
Headline EPS (HEPS)
1,064.9 1,043.6 1,086.2
Diluted EPS
1,006.9 1,087.5 1,127.7
Diluted HEPS
1,054.7 1,033.6 1,075.8
The financial information on which this voluntary trading
statement is based has not been reviewed by or reported on by
the group’s external auditors.
Johannesburg
25 February 2015
Lead sponsor
The Standard Bank of South Africa Limited
Independent sponsor
Deutsche Securities (SA) Proprietary Limited
Date: 25/02/2015 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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