ALEXANDER FORBES GROUP HOLDINGS LIMITED - Trading statement in respect of the year ended 31 March 2017

Trading statement in respect of the year ended 31 March 2017

ALEXANDER FORBES GROUP HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2006/025226/06)
JSE Share Code: AFH
ISIN: ZAE000191516
(“Alexander Forbes” or “the group”)

TRADING STATEMENT IN RESPECT OF THE YEAR ENDED 31 MARCH 2017

In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, companies
are required to publish a trading statement in the event that they are satisfied that a
reasonable degree of certainty exists that the earnings per share or headline earnings
per share results for the financial period to be reported on next (“the period”) will
differ from the previous corresponding reporting period by at least 20%.

On 19 December 2017, the group announced the disposal of its 60% interest in Lane Clark
and Peacock LLP together with its subsidiaries in Ireland and the Netherlands (“LCP”)
(”Disposal”) to the LCP individual partners and funds managed by Inflexion Private
Equity, for a total consideration of GBP75.4 million. As a result of the Disposal, the
group has recognized a profit on sale of R788 million, which is calculated on the basis
of the total proceeds less the net asset value of the operation sold.     The profit on
sale recognized in the consolidated income statement will increase basic earnings per
share by more than 20%. Headline earnings per share for the period excludes profit on
the sale but includes the operating profits from discontinued operations for the 8
months prior to the Disposal.

The group expects headline earnings per share (HEPS) and earnings per share (EPS) for
the year ended 31 March 2017 to fall within the following ranges:

                                       Reported        Expected         Change
                                     31/03/2016      31/03/2017
                                          cents           cents
Headline earnings per share                58.1     52.5 – 55.2   (10%) – (5%)
Earnings per share                         56.9   113.0 – 115.0     99% - 102%

The financial information on which this trading statement is based has not been reviewed
and reported on by the group's external auditors.     The financial results of Alexander
Forbes for the year ended 31 March 2017 will be released on SENS on 12 June 2017.


30 May 2017
Sandton

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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