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BELL EQUIPMENT LIMITED - Trading statement

Release Date: 20/11/2015 10:02
Code(s): BEL     PDF:  
Wrap Text
Trading statement

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1968/013656/06
ISIN: ZAE000028304
Share Code: BEL
(“the Company”)

TRADING STATEMENT

In terms of the JSE Limited (“JSE”) Listing Requirements
(“Listings Requirements”), companies are obliged to publish a
trading statement as soon as they are satisfied that 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
reporting period.

Shareholders are accordingly advised that the Company’s earnings
per share (“EPS”) is expected to be at least 100% higher (67
cents higher) and headline earnings per share (“HEPS”) is
expected to be at least 160% higher (78 cents higher) for the
year ended 31 December 2015 when compared to the EPS and HEPS of
67 cents and 49 cents, respectively, for the year ended
31 December 2014.

Commodity and construction industry related demand for equipment
has contracted further in 2015 and the expected increase in
earnings is mainly due to right-sizing and cost reduction
initiatives, foreign currency gains during the year and
increased penetration of the North American market.

In view of the volatility in exchange rates and uncertainty as
to the timing of the finalisation and delivery of certain sales
orders the Company cannot, with reasonable certainty, quantify
the extent of the expected improvement in its results for the
year ending 31 December 2015. A further trading statement for
the year ending 31 December 2015 will be released on the Stock
Exchange News Service of the JSE once more certainty exists.

The forecast financial information on which this trading
statement is based has not been reviewed and reported on by the
Company’s external auditors.

Richards Bay
20 November 2015

Sponsor: RAND MERCHANT BANK (A division of FirstRand Limited)

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