STEFANUTTI STOCKS HOLDINGS LIMITED - Trading statement

Release Date: 26/04/2018 10:27
Code(s): SSK
 
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Trading statement

Stefanutti Stocks Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/003767/06)
Share code: SSK 
ISIN: ZAE000123766
(“Stefanutti Stocks” or “the Group”)

TRADING STATEMENT

In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited, the board of
directors of Stefanutti Stocks hereby provides shareholders with a trading update of the Group’s
results for the year ended 28 February 2018.

The Group is required to test goodwill for impairment at each reporting period or when there is an
indicator of impairment. At 28 February 2018 an impairment of R667 million was recognised,
predominantly relating to the goodwill that arose from the Stocks Limited acquisition. This
impairment is reversed from earnings per share in determining headline earnings per share.

As a result thereof, earnings per share is expected to be a loss of between 285,00 cents and
305,00 cents per share, whereas headline earnings per share is expected to show a profit of
between 80,00 cents and 100,00 cents per share. The corresponding 2017 reporting period
reflected earnings per share reported as a loss of 79,34 cents whilst headline earnings per share
reflected a profit of 10,94 cents.

The financial information on which this trading statement is based has not been reviewed or
reported on by the Group’s auditors.

The release of the results for the year ended 28 February 2018 is anticipated to be published
on 17 May 2018.

Johannesburg
26 April 2018
Sponsor: Bridge Capital Advisors Proprietary Limited

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