IMPERIAL HOLDINGS LIMITED - Voluntary Trading Statement for the Year Ended 30 June 2017

Voluntary Trading Statement for the Year Ended 30 June 2017

Imperial Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 1946/021048/06
ISIN: ZAE000067211
Share code: IPL

(”Imperial” or the “Company’ or the “Group”)

VOLUNTARY TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2017

The forecast financial information in this voluntary trading
statement to shareholders is based on information available at the
time of publication and has not been reviewed or reported on by
Imperial’s auditors.

Shareholders are referred to the SENS announcement of 16 May 2017,
in which our guidance for the year to June 2017 was a single digit
increase in revenues and unchanged operating profit, subject to
stable currencies in the economies in which we operate. Current
forecasts indicate a marginal increase in both revenue and
operating profit, a result ahead of the guidance given to
shareholders a year ago.

Earnings per Share (‘EPS’), Headline Earnings per Share (‘HEPS’)
and Core Earnings per Share (‘Core EPS’) for the year ended 30
June 2017 are expected to decrease on the previously reported
corresponding period as follows:
                    30 June 2016        30 June 2017
                      Actual            Expected range

EPS                 1581 cents      1350 cents to 1300 cents
                                    (15% to 18% down)

HEPS                1579 cents      1400 cents to 1360 cents
                                    (11% to 14% down)

Core EPS            1747 cents      1635 cents to 1595 cents
                                    (6% to 9% down)

EPS, HEPS and Core EPS were adversely affected by:
  • Higher foreign exchange losses on various monetary items
     including working capital, intergroup loan funding and
     hedging instruments; and
  • Higher finance costs resulting from higher costs of funding
     and higher debt levels, which resulted from delays in the
     receipt of proceeds from assets and businesses held for sale.

In addition:
  • The prior period EPS was enhanced by profit on the sale of
     Neska partially offset by impairment of goodwill and other
     intangible assets. The current period EPS was depressed by
     goodwill impairments, losses on the sale and impairment of
      businesses, offset by profits on the sale of properties.
      These items are eliminated from HEPS;
  •   The prior period HEPS was enhanced by a foreign exchange gain
      from an internal restructuring. The amortisation of
      intangible assets arising from acquisitions is higher in the
      current period. Neither of these are included in Core EPS.

Imperial will release its results for the year ended 30 June 2017
on the 22 August 2017.

Bedfordview
7 August 2017
Sponsor: Merrill Lynch South Africa (Pty) Limited

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