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LABAT AFRICA LIMITED - Further trading statement

Release Date: 31/05/2017 14:45
Code(s): LAB     PDF:  
Wrap Text
Further trading statement

LABAT AFRICA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1986/001616/06)
(“Labat” or “the Company”)
ISIN Code: ZAE 000018354 Share code: LAB

FURTHER TRADING STATEMENT

In terms of paragraph 3.4(b)(i) of the Listings Requirements of the Johannesburg Stock
Exchange, listed companies are required to publish a trading statement as soon as they
become reasonably certain that the financial results for the next period to be reported
on will be more than 20% different from those of the previous corresponding period or
from a profit forecast previously provided to the market in relation to such period.

Following the release of the initial trading statement on 25 April 2017, the board of
directors of Labat has determined that the Company will report a profit before tax for the
six month period ended 28 February 2017 compared to a loss before tax of R1 062 million
reported in the prior comparative period ended 29 February 2016. This improved
performance is attributable to the Company’s new logistics business.

The earnings per share (“EPS”) and headline earnings per share (“HEPS”) for the six month
period ended 28 February 2017, however, will be lower than the HEPS and EPS reported
for the prior comparative period. The decline in HEPS and EPS is as a result of the fact that
the comparative period HEPS and EPS included a deferred tax credit of R8.4m.

Accordingly, shareholders are advised HEPS and EPS will both be 0.39 cents per share for
the six months ended 28 February 2017, compared to 2.83 cents per share reported in
the prior comparative period. This represents a decrease of 86.22%.

The financial information, on which this trading statement is based, has not been
reviewed or reported on by the Company’s auditors. The results for the six months ended
28 February 2017 are expected to be published on 31 May 2017.

Johannesburg
31 May 2017

Sponsor
Arbor Capital Sponsors Proprietary Limited

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