ALEXANDER FORBES GROUP HOLDINGS LIMITED - Trading statement in respect of the year ended 31 March 2016

Trading statement in respect of the year ended 31 March 2016

ALEXANDER FORBES GROUP HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2006/025226/06)
JSE Share Code: AFH
ISIN: ZAE000191516
(“Alexander Forbes” or “the Company” or “the group”)

TRADING STATEMENT IN RESPECT OF THE YEAR ENDED 31 MARCH 2016

In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited, companies
are required to publish a trading statement in the event that they are satisfied that a
reasonable degree of certainty exists that the earnings per share and headline earnings
per share results will differ from the previous corresponding reporting period by at
least 20%.

On 24 July 2014, the group listed on the JSE Limited (“JSE”). The costs associated with
the listing were disclosed in the pro-forma financial effects on the income statement
contained in the Company’s pre-listing statement issued on 7 July 2014 and the interim
results announcement released on the Stock Exchange News Service (“SENS”) on 2 December
2014. In addition, these costs were disclosed in detail in the annual financial
statements of the group made available on the Company's website to all shareholders on
30 June 2015.     These costs incurred in the 2014/2015 financial year will have a
significant effect on the comparability of the most recent financial year’s results
which ended on 31 March 2016.

The group expects headline earnings per share (HEPS) and earnings per share (EPS) to
fall within the following ranges for the year ended 31 March 2016:

                                       Reported        Expected        Change
                                     31/03/2015      31/03/2016
                                          cents           cents
Headline earnings per share                31,9     55,8 - 59,0     75% - 85%
Earnings per share                         20,1     55,4 - 57,4   175% - 185%

The profit from operations before non-trading and capital items more appropriately
reflects the core trading results of the operating divisions of the group. This result,
is not expected to exceed the 20% criteria of paragraph 3.4 (b) of the listings
requirements.

The financial information on which this trading statement is based has not been reviewed
and reported on by the group's external auditors.     The financial results of Alexander
Forbes for the year ended 31 March 2016 will be released on SENS on 13 June 2016.


27 May 2016
Sandton

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

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