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ECSPONENT LIMITED - Trading Statement for the 12 months ended 31 March 2018

Release Date: 22/06/2018 16:46
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Trading Statement for the 12 months ended 31 March 2018

ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS | ISIN: ZAE000179594
Debt Issuer Code: ECSP
("the Company" or "Ecsponent")


TRADING STATEMENT FOR THE 12 MONTHS ENDED 31 MARCH 2018

In terms of paragraph 3.2(b) of the JSE Limited (“JSE”) Listings Requirements, companies are
required to publish a trading statement as soon as they are satisfied, with a reasonable degree
of certainty, that the financial results for the period to be reported upon next will differ by at
least 20% from those of the previous corresponding reporting period.

The Board hereby advises shareholders that it is reasonably certain that the results for the 12-
month period ended 31 March 2018* when compared with the published results for the
financial year ended 31 March 2017# (“Comparative Period”), will show:

     •   a decrease of between 75% and 85% in earnings per share (“EPS”), resulting in an
         EPS of between 2,095 and 1,257 cents per share, as compared to the EPS of 8,380
         cents for the Comparative Period; and
     •   an increase of between 780% and 790% in headline earnings per share (“HEPS”),
         resulting in a HEPS of between 0,125 and 0,127 cents per share, as compared to the
         HEPS of 0.014 cents for the Comparative Period.

The Board announced on 20 December 2016, a series of financial transactions designed to
streamline operations and re-align the Group for increased strategic growth. These
transactions were aimed at ensuring uncompromising focus on the core Ecsponent businesses
of credit and private equity. The Group initiated a rationalisation process disposing of all assets
not aligned to these activities. The disparity between the HEPS growth and the decline in EPS
as indicated above relates to the impact of this rationalisation process.

The disposal transactions were concluded during the 2017 calendar year spanning both the
March 2017 and March 2018 financial reporting periods. The impact of the rationalisation on
the Group’s EPS for the respective financial periods include the following non-trading profits:

       •   March 2017, profit on disposal of R78.1 million or 8.393 EPS; and
       •   March 2018, profit on disposal of R15.4 million or 1.430 EPS.

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

The reviewed financial results for the 12-month period ended 31 March 2018 will be released
on or before 29 June 2018.


* Shareholders are referred to the announcement dated 28 March 2018 which contained details
of the change in the Group’s financial year end from 31 March 2018 to 30 June 2018. The
Company will issue reviewed financial results for the 12 months ending 31 March 2018 in line
with the JSE Listings Requirements.

# Shareholders are advised that the financial year end 31 March 2017 was a 15-month period
and are therefore cautioned that the Comparative Period is not directly comparable to the
financial period to be reported on next.


22 June 2018
Pretoria

Sponsor
Questco Corporate Advisory Proprietary Limited

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