NEDBANK GROUP LIMITED - Nedbank Group Trading Statement

Release Date: 26/07/2018 07:05
Code(s): NED
 
Wrap Text
Nedbank Group – Trading Statement

NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
(‘Nedbank Group’ or ‘the Group’)

NEDBANK GROUP – TRADING STATEMENT

The following statement is made with reference to paragraph 3.4 (b) of the JSE Listings
Requirements that requires companies to publish a trading statement as soon as they are
satisfied that there is a reasonable degree of certainty that the financial results for the period
to be reported on next will differ by at least 20% from the results of the previous
corresponding period.

Nedbank Group delivered a strong performance in the first half of 2018 assisted by our share
of associate income from ETI as it returned to profitability, while managed operations
delivered positive earnings growth in line with our expectations.

The Nedbank Group board is satisfied that there is a reasonable degree of certainty that
headline earnings per share (HEPS) and basic earnings per share (EPS) for the six-month
period ended 30 June 2018 will be as follows:

-   HEPS of between 1 350,5 cents and 1 405,4 cents, which is between 23% and 28%
    higher than the 1 098 cents per share reported for the six months to 30 June 2017; and

-   Basic EPS of between 1 344,4 cents and 1 399,0 cents, which is between 23% and 28%
    higher than the 1 093 cents per share reported for the six months to 30 June 2017.

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

Nedbank Group’s results for the six months ended 30 June 2018 will be released on the JSE
Stock Exchange News Service on Tuesday, 7 August 2018.

Sandton
26 July 2018

Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Ltd
Nedbank CIB

Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Ltd

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