To view the PDF file, sign up for a MySharenet subscription.

enX GROUP LIMITED - Trading Statement

Release Date: 18/04/2017 15:14
Code(s): ENX     PDF:  
Wrap Text
Trading Statement

ENX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253
(“enX” or “the company”)


TRADING STATEMENT


In terms of the JSE Listings 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 period.

Shareholders are advised that enX is expecting –

-   earnings per share (“EPS”) for the six months ended 28 February 2017 (the “current financial period”) to be
    between 63.4 cents per share and 70.1 cents per share, being between 84.8% and 104.3% higher, as compared to the
    EPS of 34.3 cents per share for the six months ended 29 February 2016 (the “previous corresponding financial
    period”) (after adjusting for the company’s share consolidation in the ratio of 11:1 on 24 October 2016 (the “share
    consolidation”) (prior to the share consolidation EPS was reported as 3.1 cents per share for the previous
    corresponding financial period));

-   headline earnings per share (“HEPS”) for the current financial period is expected to be between 71.3 cents per share
    and 78.0 cents per share, being between 107.8% and 127.4% higher, as compared to the HEPS of 34.3 cents per
    share for the previous corresponding financial period (after adjusting for the share consolidation (prior to the share
    consolidation HEPS was reported as 3.1 cents per share for the previous corresponding financial period)).

Shareholders are further advised that adjusted headline earnings per share (“adjusted HEPS”) for the current financial
period is expected to be between 91.5 cents per share and 100.1 cents per share, being between 109.7% and 129.5%
higher, as compared to the adjusted HEPS of 43.6 cents per share for the previous corresponding financial period (after
adjusting for the share consolidation (prior to the share consolidation adjusted HEPS was reported as 4.0 cents per share)).
Adjusted HEPS excludes the after tax effects of transaction costs incurred to acquire Eqstra Investments Proprietary
Limited (“Eqstra”), amortisation of intangibles, equity accounted losses in eXtract Group Limited (formally Eqstra
Holdings Limited) (“eXtract”) and IFRS2 charges. Adjusted HEPS is disclosed, as the board is of the view that this more
accurately reflects the company’s underlying trading performance.

The expected increases, calculated after the share consolidation, are primarily due to the following facts which did not
exist during the previous corresponding financial period:

-   the acquisition of 100% of the equity in Eqstra which owned eXtract’s Industrial Equipment division and Fleet
    Management and Logistics division on 8 November 2016. As such enX began accounting for Eqstra’s earnings from
    this date; and

-   the acquisition of 100% of the equity in West African International Proprietary Limited on 1 July 2016, the trading
    results of which are included for the full period.

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

The company’s financial results for the six months ended 28 February 2017 are expected to be released on SENS on or
about 15 May 2017.

18 April 2017


Sponsor
Java Capital

Date: 18/04/2017 03:14:00 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.

Share This Story