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CONSOLIDATED INFRASTRUCTURE GROUP LIMITED - Trading statement

Release Date: 31/08/2017 09:22
Code(s): CIL     PDF:  
Wrap Text
Trading statement

CONSOLIDATED INFRASTRUCTURE GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/004935/06)
JSE share code: CIL ISIN: ZAE000153888
(“Consolidated Infrastructure” or “the Company”)


TRADING STATEMENT


In terms of the Listings Requirements of the JSE Limited, 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 
next reporting period will differ by at least 20% from the financial results for the previous corresponding period.

The Company’s earnings per share (“EPS”) and headline earnings per share (“HEPS”) for the fiscal year ended
31 August 2017 are expected to be between 25% and 35% lower (being between 165.75 cents per share and 191.25
cents per share for EPS and between 165.95 cents per share and 191.25 cents per share for HEPS) compared to the
EPS of 255.0 cents per share and HEPS of 255.3 cents per share respectively for the fiscal year ended 31 August 2016.

The Company’s latest acquisition, Conlog Proprietary Limited (“Conlog”), and other group businesses have
performed in line with management’s expectations with the exception of:

  -   Consolidated Power Projects Proprietary Limited’s (“Conco”) South African division which was negatively
      impacted by the highly uncertain macro-economic environment in South Africa and the delays in decision
      making in South African Utilities and Municipalities and specifically the delay of South Africa’s Renewable
      Energy programme through which it had signed contracts of R2.3 billion and anticipated up to R4 billion worth
      of contracts for rounds 4 and 4.5 of the programme. Conco had expected R800 million of work to be executed
      in the year ended 31 August 2017 which did not materialise;

  -   Angola Environmental Services’ performance continues to be negatively impacted by the slowdown in the
      Angolan Oil Sector. There has been no increase in the number of rigs in the market since reporting our interim
      results. The business however still delivers attractive earnings before interest and depreciation. All fees and
      remittances due are being paid timeously through the Central Bank approved contracts. The business remains
      debt free and has significant cash resources.

Shareholders are further advised that should CIG become reasonably certain that the range detailed above is no longer
correct, the Company will issue a further trading statement.

The information on which this trading statement has been based has not been reviewed or reported on by CIG’s
auditors.

The reviewed results for the year ended 31 August 2017, are anticipated to be released on 8 November 2017.


31 August 2017


Sponsor
Java Capital

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