WILSON BAYLY HOLMES-OVCON LIMITED - Trading Statement

Release Date: 14/02/2018 17:15
Code(s): WBO
 
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Trading Statement

WILSON BAYLY HOLMES - OVCON LIMITED
Building and civil engineering contractors
(Registration no. 1982/011014/06)
ISIN No: ZAE 000009932
Share code: WBO
(“WBHO” or “the Company”)


TRADING STATEMENT

The directors of WBHO hereby advise shareholders that, in respect of the unaudited consolidated interim results for the period
ended 31 December 2017, earnings per share and headline earnings per share are expected to vary by the percentages and
amounts included in the table below:-


                                                                31 December             31 December             31 December
                                                                    FY17                    FY17                    FY16
                                                              % range between             between
 Continuing operations
 Earnings per share (cents)                                     80% to 90% up            716 and 755                397,5
 Headline earnings per share (cents)                            80% to 90% up            717 and 756                398,1


 Total operations
 Earnings per share (cents)                                     80% to 90% up            709 and 748                393,8
 Headline earnings per share (cents)                            80% to 90% up            712 and 751                395,3


The directors further advise shareholders that the marked increase in earnings per share is attributable to the full value of the
group’s socio-economic contribution arising from the Settlement Agreement signed with the Government of South Africa being
recognised in the consolidated results for the comparative period ending 31 December 2016.
The table below illustrates adjusted earnings per share and headline earnings per share for period had the once-off settlement
amount not been accounted for.
The operating performance of the group over the first six months of the financial year have been impacted by some margin
impairment due to an under-performing contract in Australia and conservative profit taking on two large contracts, one in South
Africa and one in Guinea which have experienced delays. Earnings were also reduced by losses from the Byrne Group (accounted
for as an associate) in the United Kingdom due to restructuring costs and delay in contract awards through the first quarter.


                                                                31 December             31 December             31 December
                                                                    FY17                    FY17                    FY16
                                                              % range between             between            (adjusted for socio-
                                                                                                               economic fund
                                                                                                                contribution)
 Continuing operations
 Earnings per share (cents)                                      1% to 6% up             716 and 755                709,5
 Headline earnings per share (cents)                             1% to 6% up             717 and 756                710,1


 Total operations
 Earnings per share (cents)                                      1% to 6% up             709 and 748                706,1
 Headline earnings per share (cents)                             1% to 6% up             712 and 751                708,2


The financial results for the period to 31 December 2017 are expected to be released on SENS 27 February 2018.
This statement has not been reviewed or reported on by the company’s auditors.
By order of the board


Johannesburg
14 February 2018


Sponsor: Investec Bank Limited

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