BELL EQUIPMENT LIMITED - Trading statement

Trading statement

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1968/013656/06
ISIN: ZAE000028304
Share Code: BEL
(“the Company”)

TRADING STATEMENT

In terms of the JSE Limited Listing Requirements, companies are
required to publish a trading statement as soon as they are
satisfied that a reasonable degree of certainty exists that the
financial results for the period to be reported on next will
differ by at least 20% from the financial results for the
previous corresponding reporting period.

Shareholders are accordingly advised that the Company’s earnings
per share (“EPS”) and headline earnings per share (“HEPS”) are
expected to be at least 50% lower (at least 89 cents and at
least 84 cents lower) for the year ended 31 December 2016 when
compared to the EPS and HEPS of 177 cents and 167 cents,
respectively, reported for the year ended 31 December 2015.

Shareholders are referred to the Company’s unaudited interim
results announcement for the six months ended 30 June 2016
(published on the Stock Exchange News Service (“SENS”) on 20
September 2016), in which reported EPS and HEPS for the year
ended 31 December 2015 were restated to 148 cents and 138 cents
respectively. When compared to restated EPS and HEPS, expected
EPS and HEPS for the year ended 31 December 2016 are accordingly
expected to be at least 40% lower (at least 60 cents and 55
cents lower, respectively).

The expected decrease in results is due to fraud and
mismanagement in the Company’s subsidiary in the Democratic
Republic of Congo (DRC), as previously communicated to
shareholders; to continued depressed conditions in the markets
and industries in which the Company operates, and to uncertainty
regarding the recoverability of certain receivables in the DRC,
the extent of which the Company cannot quantify at this stage. A
further trading statement will be released on SENS once more
certainty exists.

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

The financial results for the year ended 31 December 2016 are
expected to be announced on SENS on or about 16 March 2017.

Richards Bay
8 February 2017

Sponsor
RAND MERCHANT BANK (A division of FirstRand Limited)






Date: 08/02/2017 05:06:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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