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

NIVEUS INVESTMENTS LIMITED - Trading Statement

Release Date: 12/05/2017 13:15
Code(s): NIV     PDF:  
Wrap Text
Trading Statement

NIVEUS INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1996/005744/06)
Share code: NIV
ISIN: ZAE000169553
(“Niveus” or “the Company”)

TRADING STATEMENT

In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading
statement as soon as it becomes aware that the financial results for the financial period to be reported on
next will vary by 20% or more from those of the previous corresponding period.

Niveus’ preliminary financial results for the year ended 31 March 2017 are due to be released on the Stock
Exchange News Service on or about 25 May 2017.

In compliance with the JSE Listings Requirements, Niveus shareholders are advised that Niveus will report
a loss per share of between 7,8 cents and 0,3 cents, and headline earnings per share of between 177,1
cents and 188,8 cents, compared to earnings per share of 37,9 cents and headline earnings per share of
58,6 cents reported for the year ended 31 March 2017.

Vukani’s year-on-year gross gambling revenue (“GGR”) grew 12%, EBITDA 18% and 14% on a normalised
EBITDA basis after adding back non-recurring and abnormal items in the current and prior years. Bingo
GGR from fully developed sites grew 12% from the prior year and its EBITDA grew 17%. Total Bingo Group
EBITDA grew 68% year-on-year partly due to a significant reduction in costs from non-operational licence,
legal and bid costs.

While the market value of Niveus’ investment in KWV exceeds the historical acquisition cost, an accounting
loss of R216 million net of minority interest was recognised on the sale of the operational assets of KWV.
The loss recognised by Niveus on consolidation is due to fair value adjustments written off, which were
required to be recognised in terms of IFRS upon the acquisition of control in KWV. The loss is added back
for the calculation of consolidated headline earnings.

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

Cape Town
12 May 2017

Sponsor: PSG Capital Proprietary Limited

Date: 12/05/2017 01:15:00 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