To view the PDF file, sign up for a MySharenet subscription.

ADVANCED HEALTH LIMITED - Updated Trading Statement for the year ended 30 June 2016

Release Date: 23/08/2016 17:00
Code(s): AVL     PDF:  
Wrap Text
Updated Trading Statement for the year ended 30 June 2016

ADVANCED HEALTH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/059246/06)
(“the Company” or “Advanced Health”)
ISIN Code: ZAE000189049        JSE Code: AVL

UPDATED TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2016

In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock Exchange, listed
companies are required to publish a trading statement as soon as they become reasonably certain that the
financial results for the next period to be reported on will be more than 20% different from those of the
previous corresponding period or from a profit forecast previously provided to the market in relation to
such period.

Following the trading statement published on SENS on 1 June 2016, shareholders are advised that
Advanced Health expects to report a net loss after taxation attributable to the parent for the year ended
30 June 2016, of R18.311 million compared to a restated profit of R17.487 million for the year ended
30 June 2015.

The loss per share will be 8.26 cents for the year ended 30 June 2016 compared to the restated earnings of
7.89 cents per share for the year ended 30 June 2015.

Headline loss for the year will be R17.767 million compared to the restated prior year headline earnings of
R8.865 million. Accordingly, the headline loss per share will be 8.02 cents for the year ended 30 June 2016
compared to headline earnings of 4.00 cents per share for the year ended 30 June 2015.

The reasons for earnings being lower include the following:

-       The Company rolling out its strategy to become the leading provider of day hospitals in South Africa
        and Australia, with 9 new day hospitals in various stages of completion in South Africa and the
        opening of its new flagship 6 theatre day hospital in Chatswood, Sydney, Australia in January 2016.
-       As is the nature of the roll out of day hospitals, the initial building development of the hospital
        takes up to 18 months, depending on circumstances for the completion of the construction and the
        commissioning process. These day hospitals then require a settling-in period of up to 36 months
        before the envisaged financial advantages fully materialise.
-       A fair value adjustment on the Australian property was a once-off inclusion in the 2015 financial
        year.

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

The Company’s results announcement for the year ended 30 June 2016 is expected to be published on or
about 31 August 2016.

Johannesburg
23 August 2016


Designated Advisor
Arbor Capital Sponsors Proprietary Limited

Date: 23/08/2016 05:00:00 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.

Share This Story