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Voluntary 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)
VOLUNTARY TRADING UPDATE
The 2018 financial year was characterised by a stagnant economy, political uncertainty and
poor growth rates which impeded pricing and volumes in certain divisions of the Group. This
negative trend was reversed by the ongoing focus on reducing the Group’s cost base and
partial improvement in volumes towards the end of the financial year. The retail logistics
business of Key Distributors performed to expectation. The current period’s results
however, were impacted by the once off BBBEE equity transaction costs amounting to
R19 million as illustrated in the Group’s interim results dated 18 October 2017.
Shareholders are accordingly advised that basic and headline earnings per share for the
year ended 28 February 2018 will be 10% lower to 10% higher than that achieved in the
previous corresponding period. This translates to basic earnings per share ranging from
51,5 to 62,9 cents per share in relation to the comparative period, 28 February 2017, (57,2
cents per share) and headline earnings per share ranging from 55,7 to 68,1 cents per share
in relation to the comparative period (61,9 cents per share).
Excluding the once off BBBEE equity transaction costs, adjusted headline earnings per
share for the year ended 28 February 2018 will be 5% to 25% higher than that achieved in
the corresponding period. This translates to adjusted headline earnings per share ranging
from 65,0 to 77,4 cents per share in relation to the comparative period, 28 February 2017,
(61,9 cents per share).
The financial results, on which this trading update has been based, have not been reviewed
or reported on by Value’s auditors. Further information will be provided in the results
announcement for the year ended 28 February 2018 which will be published on or about
11 May 2018.
Johannesburg
Date: 23 April 2018
Sponsor:
Investec Bank Limited
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