BOWLER METCALF LIMITED - Further trading statement

Further trading statement

BOWLER METCALF LIMITED
(Registration number 1972/005921/06)
Share code: BCF ISIN number: ZAE0000308797
(“Bowler Metcalf” or “the company”)

FURTHER TRADING STATEMENT

In terms of rule 3.4(b) of the Listings Requirements of the JSE Limited, a listed company is required
to publish a trading statement as soon as a reasonable degree of certainty exists that the financial
results for the next reporting period to be reported on will differ by at least 20% from those of the
previous corresponding period.

Following the disposal of Quality Beverages and pursuant to the further trading statement dated
10 July 2015, shareholders are advised that the total earnings per share ("EPS") is expected to be
between 278.5 and 293.2 cents per share, 280% to 300% higher compared to the previous year of
73.3 cents per share. EPS from continuing operations is expected to be between 81.3 and 94.8
cents per share, 20% to 40% higher compared to 67.71 cents per share in the prior year.

As per our previous trading statement referred to above, the range for total headline earnings per
share (“HEPS”) is unchanged, between 89.9 and 104.9 cents per share, 20% to 40% higher than the
74.9 cents per share of the prior year. HEPS from continuing operations is likewise expected to be
between 83.0 and 96.8 cents per share, 20% to 40% higher than 69.14 cents per share in the prior
year.

The information on which this announcement has been based has not been reviewed or reported
on by the group’s auditors.

Cape Town
29 September 2015

Sponsor
Arbor Capital Sponsors Proprietary Limited

Date: 29/09/2015 09:55:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.