RAND MERCHANT INVESTMENT HOLDINGS LIMITED - Trading statement: 6 months ended 31 December 2017

Release Date: 06/03/2018 13:10
Code(s): RMI
 
Wrap Text
Trading statement: 6 months ended 31 December 2017

RAND MERCHANT INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2010/005770/06
ISIN: ZAE000210688
Share code: RMI
("RMI" or "the group")

TRADING STATEMENT: SIX MONTHS ENDED 31 DECEMBER 2017

Paragraph 3.4(b) of the JSE Limited Listings Requirements
prescribes that an issuer must publish a trading statement as soon
as it becomes apparent with a reasonable degree of certainty that
earnings per share (“EPS”) and/or headline earnings per share
(“HEPS”) for the next reporting period are expected to differ by
at least 20% from those of the previous corresponding reporting
period.

RMI regards normalised EPS (which excludes non-operational items
and accounting anomalies) as the key indicator of the group’s
operational performance.

RMI shareholders are referred to the unaudited interim results
announcement of Discovery Limited released on the Stock Exchange
News Service (“SENS”) on 20 February 2018, the trading statement
released on SENS by MMI Holdings Limited on 21 February 2018 and
the audited results announcement of Hastings Group Holdings plc,
which is listed on the London Stock Exchange, for the year ended
31 December 2017 released on 1 March 2018.

The following guidance is provided to RMI shareholders regarding
the expected outcome for the six months ended 31 December 2017:


                          Six months      Guidance for the six months
                               ended         ended 31 December 2017
                         31 December
                                2016
                             (cents)      % increase      Range (cents)

EPS                            109.2      20% to 30%     131.0 to 142.0
HEPS                           109.6      20% to 30%     131.5 to 142.5
Normalised EPS                 121.5      20% to 30%     145.8 to 158.0

The financial information on which this trading statement is based
has not been reviewed and reported on by the group’s external
auditor.

RMI’s unaudited summarised results for the six months ended
31 December 2017 are expected to be released on SENS on Monday,
12 March 2018.

Sandton
6 March 2018
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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