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Trading statement for the 12 months ended 31 December 2016
ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
(“the Company” or “Ecsponent”)
Trading Statement for the 12 months ended 31 December 2016
In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to
publish a trading statement as soon as they are satisfied, with a reasonable degree of certainty, that
the financial results for the period to be reported upon next will differ by at least 20% from those of the
previous corresponding reporting period.
The Board therefore wishes to advise shareholders that it is reasonably certain that the second
interim period results* for the twelve-month period ended 31 December 2016 when compared with the
published results for the financial year ended 31 December 2015 (“Comparative Period”), will differ as
follow:
- earnings per share (“EPS”) are expected to increase by between 20% and 25%, resulting in an
EPS of between 3.109 cents and 3.239 cents per share, as compared to the EPS of 2.591 cents
per share for the Comparative Period; and
- the EPS increase unfortunately does not flow through to headline earnings per share (“HEPS”)
as a result of categorisation differences between the comparative periods. Headline earnings per
share are expected to decrease by between 20% and 25%, resulting in a HEPS of between
1.868 cents and 1.992 cents per share, as compared to the HEPS of 2.490 cents per share for
the Comparative Period.
The EPS increase does not flow through to HEPS as a result of categorisation differences in terms of
the Circular 2/2015 issued by the South African Institute of Chartered Accountants. In the
Comparative Period the profit on the disposal of certain financial assets were categorised under IAS
39 and therefore included in the calculation of HEPS while the disposal of the Swaziland retail credit
business during the period under review was categorised under IFRS 10 and is therefore excluded
from the HEPS calculation.
* Shareholders are referred to the announcement dated 12 December 2016 which advised of the
change in the Group’s financial year end from 31 December 2016 to 31 March 2017.
The financial information on which this trading statement is based has not been reviewed or reported
on by the Company's auditors.
The second interim period results for the twelve-month period ended 31 December 2016 will be
released on or by 31 March 2017.
17 March 2017
Pretoria
Sponsor to Ecsponent
Questco (Pty) Ltd
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