DISCOVERY LIMITED - Trading statement: year ended 30 June 2018

Release Date: 23/08/2018 16:34
Code(s): DSY
 
Wrap Text
Trading statement: year ended 30 June 2018

DISCOVERY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
JSE share code: DSY, DSYBP
DSY ISIN: ZAE000022331
DSBP ISIN: ZAE000158564
JSE bond code: DSYI

("Discovery" or "the Company” or “the Group”)

TRADING STATEMENT: YEAR ENDED 30 JUNE 2018

In accordance with paragraph 3.4(b) of the JSE Listings Requirements, issuers must publish a trading
statement as soon as they have a reasonable degree of certainty that earnings per share and / or
headline earnings per share for the next reporting period will differ by at least 20% from that of the
previous corresponding period.

Shareholders are advised that:
- Headline earnings per share (undiluted) for the year ended 30 June 2018 (“current period”) is
  expected to increase in the range of 30% to 35%, to between 888 cents and 922 cents over the
  prior year ended 30 June 2017 (“prior period”) (2017: 683.1 cents); and
- Earnings per share (undiluted) is expected to increase in the range of 25% to 30%, to between 855
  cents and 889 cents (2017: 684.2 cents) over the prior period.

It is practice for the Company to issue a trading statement on “normalised” headline earnings per share,
which in management’s view best represents the underlying performance of the Group.

Accordingly, shareholders are advised that:
- Normalised profit from operations is expected to increase by between 15% and 20% in the current
  period over the prior period to between R8.1 billion and R8.5 billion (2017: R7.0 billion); and
- Normalised headline earnings per share (undiluted) is expected to increase in the range of 13% to
  18%, to between 816 cents and 852 cents over the prior period (2017: 722.2 cents).

Discovery’s results for the year are due to be released on SENS on 4 September 2018.

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

Sandton
23 August 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 23/08/2018 04:34:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story