AFRICAN & OVERSEAS ENTERPRISES LIMITED - Trading statement

Trading statement

AFRICAN & OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO ISIN: ZAE000000485
JSE share code: AON ISIN: ZAE000009718
JSE share code: AOVP ISIN: ZAE000000493
(“AOE”)


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 current reporting period will differ by at least 20% from the financial results for the previous
corresponding period.

In its commentary to the reviewed condensed consolidated preliminary financial results for the year ended
30 June 2017 (published on SENS on the 8 September 2017) AOE noted that its subsidiary, Rex Trueform
Group Limited (formerly Rex Trueform Clothing Company Limited), had noted various initiatives to be
introduced with a view to improving turnover, noting further that the tough economic trading and market
conditions were still likely to continue to impact its business in the short term.

While the tough economic trading and market conditions are still likely to continue to impact on the business
in the short term, the various initiatives introduced have yielded results and, accordingly, shareholders are
advised that:

1.    AOE’s earnings per share for the six months ended 31 December 2017 are expected to be between
      30.4 and 33.1 cents per share, being an improvement of between 125% and 145% from the earnings of
      13.5 cents per share reported by AOE for the six months ended 31 December 2016; and

2.    AOE’s headline earnings per share for the six months ended 31 December 2017 are expected to be
      between 30.2 and 33.3 cents per share, being an improvement of between 96% and 116% from the
      headline earnings of 15.4 cents per share reported by AOE for the six months ended 31 December
      2016.

The information on which this trading statement has been based has not been reviewed or reported on by
AOE’s auditors. The financial results for the six months ended 31 December 2017 are expected to be
published on or about 9 March 2018.

15 February 2018


Sponsor
Java Capital

Date: 15/02/2018 01:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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