Sharenet Sites 
Sharenet Sites
Trading Statement
Stefanutti Stocks Holdings Limited
(Registration number 1996/003767/06)
Share code: SSK ISIN: ZAE000123766
(“Stefanutti Stocks” or “the Group”)
TRADING STATEMENT
In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited, the board of
directors of Stefanutti Stocks hereby provides shareholders with a trading update of the Group’s
results for the year ended 29 February 2016.
Earnings per share (as restated) in respect of continuing operations are expected to be between
150,4 cents and 135,4 cents per share representing a decrease of between 0% and 10% less than
the restated 150,4 cents per share for the prior year. Headline earnings per share are expected to
be between 146,8 cents and 132,1 cents per share representing a similar decrease of between 0%
and 10% less than the restated 146,8 cents per share reported for the prior year.
Earnings per share (comprising both continuing and discontinued operations) are expected to be
between 109,1 cents and 86,1 cents per share representing a decrease of between 5% and 25%
less than the 114,8 cents per share reported for the prior year. Headline earnings per share are
expected to be between 107,0 cents and 84,5 cents per share representing a similar decrease of
between 5% and 25% less than the 112,6 cents per share reported for the prior year.
The key aspects contributing to the above can be summarised as follows:
- Due to deteriorating market conditions within the electromechanical sector in the Middle East,
the Group has sold its 49% investment in Zener Steward Electromechanical LLC (“Zener”),
meeting the classification requirements of a discontinued operation in accordance with
International Financial Reporting Standards. Consequently the results for the year ended
28 February 2015 will be restated to exclude Zener from continuing operations. The costs
attributable to the discontinuance of Zener include the carrying value of the investment,
losses incurred during the period as well as the effects of the weakening of the South African
Rand against the United Arab Emirates Dirham.
- Included in the reported discontinued operations are additional costs relating to the Power
division, which have been incurred during the current financial year, in resolving ongoing
disputes with customers. The closure of the Power division had already been classified as a
discontinued operation for the year ended 28 February 2015.
- During the year, the Group disposed of its investment property, resulting in a profit, which is
reversed in the calculation of headline earnings per share.
All other businesses have performed in line with management’s expectations.
The financial information on which this trading statement is based has not been reviewed or
reported on by the Group’s auditors.
The release of the results for the year ended 29 February 2016 is anticipated to be published on or
about 19 May 2016.
Johannesburg
21 April 2016
Sponsor: Bridge Capital Advisors Proprietary Limited
Date: 21/04/2016 03:07:00 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.
