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

ELB GROUP LIMITED - Trading statement

Release Date: 22/09/2016 15:00
Code(s): ELR     PDF:  
Wrap Text
Trading statement

ELB Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1930/002553/06)
Share code: ELR
ISIN: ZAE000035101
(“ELB”, “the Company” or “the Group”)

TRADING STATEMENT

In terms of the JSE Limited Listings Requirements companies are required to provide guidance to the market
when they are satisfied that a reasonable degree of certainty exists that the financial results for the current
reporting period will differ by at least 20% from the results of the previous corresponding reporting period.

On 2 August 2016 shareholders of the Company were advised that:

- earnings per share (“EPS”) for the year ended 30 June 2016 was expected to be at least 200% or 644.6 cents
lower than the EPS of 322.3 cents reported for the year ended 30 June 2015; and

- headline earnings per share (“HEPS”) for the year ended 30 June 2016 was expected to be at least 200% or
642.4 cents lower than the HEPS of 321.2 cents reported for the year ended 30 June 2015.

In addition shareholders of the Company were also advised that there was insufficient certainty to enable the
Group to provide specific guidance as to the extent of the expected decrease in both EPS and HEPS and that it
was anticipated that ELB would publish a further trading statement closer to the release of its annual financial
results.

The Company is now in a position to provide the specific guidance as to the extent of the expected decrease in
both EPS and HEPS for the current reporting period.

Accordingly, shareholders of the Company are advised that:

- EPS is likely to be between 250% (805.8 cents per share) and 270% (870.2 cents per share) lower than the
EPS of 322.3 cents per share reported for the year ended 30 June 2015; and

- HEPS is likely to be between 250% (803.0 cents per share) and 270% (867.2 cents per share) lower than the
HEPS of 321.2 cents per share reported for the year ended 30 June 2015.

Notwithstanding the results for 2016 the Group has budgeted for a return to profitability during the coming
financial year.

The balance sheet remains strong and shareholders will receive a further update in respect of market conditions
when the results for the Group are released before the end of September 2016.

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

Johannesburg
22 September 2016

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

Date: 22/09/2016 03:00:00 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