MVELASERVE LIMITED - Trading statement

Release Date: 15/08/2013 14:50
Code(s): MVS
 
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Trading statement

MVELASERVE LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1999/003610/06
Ordinary share code: MVS
Ordinary share ISIN: ZAE 000151353
(“Mvelaserve” or “the Company”)

TRADING STATEMENT

Mvelaserve is currently finalising its results for the financial
year ended 30 June 2013, which are expected to be released on SENS
on or about Wednesday, 11 September 2013. In this regard,
shareholders are advised that:

*Earnings per share (“EPS”) is expected to be between 71% and 87%
higher, than the 48,1 cents for the year ended 30 June 2012 (“the
previous year”), and

*Headline earnings per share (“HEPS”) is expected to be between
109% and 124% higher, than the 65,1 cents for the previous year.

The increase in earnings is mainly attributable to the recognition
of previously unrecognised deferred tax assets and improved
operational performance.

The above increases are partly offset by goodwill impairment
charges in respect of LTP, Zonke and RoyalServe Cleaning as well
as tangible and intangible asset impairment charges in respect of
Velocity, which impacts EPS but are excluded for the purposes of
calculating HEPS.

The above information has not been reviewed and reported on by the
Company’s auditors.

Johannesburg
15 August 2013

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

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