BOWLER METCALF LIMITED - Trading Statement

Trading Statement

BOWLER METCALF LIMITED
(Registration number 1972/005921/06)
Share code: BCF ISIN number: ZAE000030797
(“Bowler Metcalf” or “the company”)

TRADING STATEMENT

In terms of rule 3.4(b) of the Listings Requirements of the JSE Limited, a listed company is required
to publish a trading statement as soon as a reasonable degree of certainty exists that the financial
results for the next reporting period to be reported on will differ by at least 20% from those of the
previous corresponding period.

Shareholders are advised that the Company’s earnings and headline earnings per share,
including discontinued operations, for the six months ended 31 December 2016 are expected to
be between 37 cents and 42 cents respectively, being 5.5% - 16.7% lower compared to earnings
per share of 44.44 cents and 22.7% - 31.9% lower compared to headline earnings per share of
54.35 cents for the six months ended 31 December 2015.

The information on which this announcement has been based has not been reviewed or reported
on by the group’s auditors.

Cape Town
14 February 2017

Sponsor
Arbor Capital Sponsors Proprietary Limited

Date: 14/02/2017 04:40:00 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.