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Trading Update
Value Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1997/002203/06
Share code: VLE
ISIN code: ZAE000016507
(Value or the Group)
TRADING UPDATE
In terms of the listings requirements of the JSE Limited, a listed company is required to
publish a trading update as soon as it becomes reasonably certain that the financial results
for the period to be reported on next will show a 20% or more difference from the previous
corresponding period.
The stagnant economy, political uncertainty and poor growth rates continue to impede
pricing and volumes in certain divisions of the Group. This negative trend has been
countered by the ongoing focus on reducing the Group’s cost base which has yielded
positive results. The retail logistics business of Key Distributors has performed well with
positive growth in revenue and profit. The current period’s results however, have been
impacted by the once off BBBEE equity transaction costs as illustrated in the Group’s
circular dated 22 June 2017.
Shareholders are accordingly advised that basic and headline earnings per share for the six
months ended 31 August 2017 will be 50% to 70% lower than that achieved in the previous
corresponding period. This translates to basic earnings per share ranging from 4,1 to
6,8 cents per share in relation to the comparative period (13,5 cents per share) and
headline earnings per share ranging from 4,4 to 7,2 cents per share in relation to the
comparative period (14,4 cents per share).
Excluding these once off BBBEE equity transaction costs, adjusted headline earnings per
share for the six months ended 31 August 2017 will be 10% to 30% higher than that
achieved in the corresponding period. This translates to adjusted headline earnings per
share ranging from 15,9 to 18,7 cents per share in relation to the comparative period (14,4
cents per share).
The financial results, on which this trading update has been based, have not been reviewed
nor reported on by Value’s auditors. Further information will be provided in the results
announcement for the six months ended 31 August 2017 which will be published on or
about 18 October 2017.
Johannesburg
Date: 6 October 2017
Sponsor:
Investec Bank Limited
Date: 06/10/2017 01:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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