CARGO CARRIERS LIMITED - Updated Trading Statement

Updated Trading Statement

CARGO CARRIERS LIMITED
(Registration Number 1959/003254/06)
Share code: CRG
ISIN: ZAE000001764
("CRG" or "the Company")


UPDATED TRADING STATEMENT


Shareholders are referred to the Trading Statement released on SENS on 21 May 2018 and are advised that the
Company expects to report an increase in both basic and diluted earnings per share and basic and diluted headline
earnings per share from that which was previously advised. The revised expectations are set out below:

Basic and diluted earnings per share (“EPS”):
The combined EPS from total operations is expected to be between 122.5 cents per share and 127.1 cents per share
for the year ended 28 February 2018, being an increase of between 6.5% and 10.5% compared to 115.0 cents per
share in the prior year. However, a large component of the prior year EPS related to discontinued operations.
Accordingly, the following additional information is presented:
- EPS from continuing operations is expected to be between 122.5 cents per share and 127.1 cents per share,
  reflecting an increase in excess of 100% when compared to the loss per share from continuing operations of (11.5)
  cents per share for the prior year ended 28 February 2017; and
- As there were no discontinued operations for the current year, EPS from discontinued operations is expected to
  be nil cents per share compared to the EPS of 126.5 cents per share for the prior year ended 28 February 2017.

Basic and diluted headline earnings per share (”HEPS”):
The combined HEPS from total operations is expected to be between 137.2 cents per share and 146.5 cents per share
for the year ended 28 February 2018, being an increase of between 194.3% and 214.3% compared to 46.6 cents per
share in the prior year. Shareholders are however reminded, a large component of the prior year HEPS related to
discontinued operations.

The financial information on which this trading statement is based has not been reviewed and reported on
by the Company’s auditors. The Company expects its results for the period ended 28 February 2018 to be
released on SENS on or about 31 May 2018.

Johannesburg
25 May 2018

Sponsor
Arbor Capital Sponsors Proprietary Limited

Date: 25/05/2018 05:26:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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