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Trading Update
Value Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1997/002203/06
Share code: VLE
ISIN code: ZAE000016507
(Value or the Group)
TRADING UPDATE
In terms of the listings requirements of the JSE Limited, a listed company is required to
publish a trading update as soon as it becomes reasonably certain that the financial results
for the period to be reported on next will show a 20% or more difference from the previous
corresponding period.
Trading conditions continue to be extremely challenging. Poor growth rates have once
again had a material impact on volumes and demand for the Group’s services. In addition,
the Group contends with ongoing customer rate pressures. The strategy however, to grow
the customer base, is yielding positive results. Notwithstanding the difficult trading
conditions, various ongoing cost saving initiatives, which commenced in the previous
financial year, has achieved sustainable operational savings. This has led to an
improvement in the Group’s profitability.
Accordingly, shareholders are advised that basic earnings per share for the interim period
ended 31 August 2015 will be 171% to 189% higher than that achieved in the previous
corresponding period and headline earnings per share will be between 106% and 124%
higher than that achieved in the previous corresponding interim period. This translates to
basic earnings per share ranging from 9,5 to 10,1 cents per share in relation to the
comparative period (3,5 cents per share) and headline earnings per share ranging from 10,1
to 11,0 cents per share in relation to the comparative period (4,9 cents per share). The
large increase is emphasised due to the comparative period’s low earnings base as
reflected in the interim results for the period ended 31 August 2014.
The financial results, on which this trading update has been based, have not been reviewed
nor reported on by Value’s auditors. Further information will be provided in the results
announcement for the 6 months ended 31 August 2015 which will be published on or about
21 October 2015.
Johannesburg
9 October 2015
Sponsor:
Investec Bank Limited
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