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LABAT AFRICA LIMITED - Trading statement

Release Date: 08/12/2017 12:05
Code(s): LAB     PDF:  
Wrap Text
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



TRADING STATEMENT FOR THE YEAR ENDED 31 AUGUST 2017
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.
The earnings per share ('EPS') and headline earnings per share ('HEPS') is expected to be 1.81 cents per share for the year ended 31 August 2017, which is 44.8% lower than the HEPS and EPS of 3.28 cents respectively per the audited results for the year ended 31 August 2016. The decline in HEPS and EPS is as primarily a result of the fact that the comparative period HEPS and EPS included a deferred tax credit of R7.9m relating to tax losses available for set off against future taxable income.
Shareholders are also advised that the Net Asset Value per share has increased by more than 80% to 4.73 from 2.59 cents per share.
The financial information, on which this trading statement is based, has not been reviewed or reported on by the Company's auditors. The reviewed results for the year ended 31 August 2017 is expected to be published on or about 12 December 2017. Johannesburg 8 December 2017 Sponsor Arbor Capital Sponsors Proprietary Limited
Date: 08/12/2017 12:05:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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