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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 28 February 2017 shareholders of the Company were advised that:
- earnings per share (‘EPS’) for the six months ended 31 December 2016 was expected to
improve by at least 350% or 177.1 cents from the loss per share of 50.6 cents reported
for the six months ended 31 December 2015; and
- headline earnings per share (‘HEPS’) for the six months ended 31 December 2016 was
expected to improve by at least 340% or 174.4 cents from the headline loss per share of
51.3 cents reported for the six months ended 31 December 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 increase in both EPS and HEPS and that it was anticipated that ELB would publish
a further trading statement closer to the release of its Group Interim Report.
The Company is now in a position to provide the specific guidance as to the extent of
the expected increase in both EPS and HEPS for the current reporting period.
Accordingly, shareholders of the Company are advised that:
- EPS is likely to improve between 381% (192.8 cents per share) and 386% (195.3 cents
per share) from the loss per share of 50.6 cents per share reported for the six months
ended 31 December 2015; and
- HEPS is likely to improve between 372% (190.8 cents per share) and 377% (193.4 cents
per share) from the headline loss per share of 51.3 cents per share reported for the six
months ended 31 December 2015.
The Board is pleased to be able to report a return to profitability after a difficult
comparative reporting period and the prior financial year. Many of the initiatives that
have been embarked on and projects pursued over the past years have achieved a positive
outcome in this period, including the award of the Gamsberg and Asanko projects announced
towards the end of the period.
Shareholders will receive a further update when the Group Interim Report is released on
or about 14 March 2017.
The financial information on which this trading statement is based has not been reviewed
and reported on by the Company’s external auditors.
Johannesburg
10 March 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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