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MONTAUK HOLDINGS LIMITED - Trading Statement

Release Date: 30/04/2018 07:25
Code(s): MNK     PDF:  
Wrap Text
Trading Statement

MONTAUK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2010/017811/06)
(Share code: MNK & ISIN: ZAE000197455)
("MNK" or "the company")

TRADING STATEMENT

In terms of section 3.4 (b) of the JSE Limited Listings Requirements,
companies are required to publish a trading statement as soon as they are
reasonably certain that the financial results for the current reporting
period will be more than 20% different than that of the previous
corresponding period.

Shareholders are hereby advised that a reasonable degree of certainty exists
that for the year ended 31 March 2018, the Company will report basic earnings
per share of between 18.03 and 14.92 US cents, being a decrease of between
42,0% and 52,0% as compared to the prior year basic earnings per share of
31.08 US cents. Headline earnings per share is expected to be between 17.97
and 14.76 US cents, being a decrease of between 44.0% and 54.0% as compared
to the prior year headline earnings per share of 32.08 US cents.

Basic and headline earnings per share in the prior year included a deferred
tax income item in the amount of US$26.8 million that was recorded as a
result of the recognition of a deferred tax asset of the same amount. The
current year basic and headline earnings per share includes a deferred tax
expense of US$14.7 million, resulting from income utilisation of the
Company’s deferred tax asset and statutory tax rate reductions in accordance
with the United States 2017 Tax Cuts and Jobs Act.

The above information has not been reviewed or reported on by the Company`s
auditors. The Company`s results are expected to be published on or about 4
May 2018.

Cape Town
30 April 2018
Sponsor:
Investec Bank Limited

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