CARGO CARRIERS LIMITED - Trading Statement

Trading Statement

CARGO CARRIERS LIMITED
(Registration Number 1959/003254/06)
Share code: CRG
ISIN: ZAE000001764
("CRG" or "the Company")


TRADING STATEMENT


In accordance with paragraph 3.4(b) of the Listings Requirements of the
Johannesburg Stock Exchange, shareholders are advised that for the six-month
period ended 31 August 2016:

-   Earnings per share (“EPS”) is expected to be between 115 cents per share and 137
    cents per share, reflecting an increase of between 5% and 25% respectively, when
    compared to the EPS of the 109.4 cents per share reported for the prior period
    ended 31 August 2015; and

-   Headline earnings per share (“HEPS”) is expected to be between 27 cents per
    share and 33 cents per share, reflecting a decrease of between 71% and 64%
    respectively, when compared to the HEPS of 93 cents per share reported for the
    prior period ended 31 August 2015.

EPS has been impacted positively by profit on the strategic sale of the Company’s
Zambian subsidiary.

The decline in HEPS reflects the extremely difficult trading conditions experienced in
the first six months of the year, with declines in volumes and margins.

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

The Company expects its results for the period ended 31 August 2016 to be released
on SENS on or about 1 November 2016.

Johannesburg
13 October 2016

Sponsor
Arbor Capital Sponsors Proprietary Limited

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