AFROCENTRIC INVESTMENT CORPORATION LIMITED - Trading statement

Release Date: 24/08/2018 08:30
Code(s): ACT
 
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Trading statement

AFROCENTRIC INVESTMENT CORPORATION LIMITED
Incorporated in the Republic of South Africa
Registration Number: 1988/000570/06
JSE Code: ACT
ISIN: ZAE 000078416
(“AfroCentric”)


TRADING STATEMENT

In terms of paragraph 3.4(b) (i) of the JSE Limited Listings Requirements, companies are required to
provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that
the financial results for the current reporting period, will differ by at least 20% from the previous
corresponding reporting period.


AfroCentric shareholders are accordingly advised that:
-    basic earnings per share (EPS) for the current reporting period is expected to be between 43.31
     cents and 46.71 cents reflecting an increase of between 104.00% and 120.02% when compared to
     the 21.23 cents reported in the previous corresponding period; and
-    headline earnings per share (HEPS) for the current reporting period is expected to be between 43.96
     cents and 47.54 cents reflecting an increase of between 96.78% and 112.80% when compared to
     the 22.34 cents reported in the previous corresponding period.


Shareholder attention is drawn to the two IFRS provisions in the June 2017 Income Statement, one
relating to the Sanlam share subscription profit warranty and the second pertaining to the suspensive
Tranche 2 payment for the WAD acquisition. Both of these corporate matters were successfully
concluded during the reporting period, making IFRS provisions in each case no longer relevant or
applicable. Absent the aforesaid provisions, EPS and HEPS now reveals a realistic measurement of the
performance of the AfroCentric Group.


The financial results on which this trading statement is based have not been reviewed or reported on by
AfroCentric’s external auditors.


The financial results are scheduled to be published on or about 17 September 2018.


Johannesburg
24 August 2018


Sponsor
Sasfin Capital (a member of the Sasfin group)

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