BOWLER METCALF LIMITED - Trading Statement

Trading Statement

BOWLER METCALF LIMITED
(Registration number 1972/005921/06)
Share code: BCF ISIN number: ZAE000030797
(“Bowler Metcalf” or “the Company”)




TRADING STATEMENT


In terms of rule 3.4(b) of the Listings Requirements of the JSE Limited, a listed company is required
to publish a trading statement as soon as a reasonable degree of certainty exists that the financial
results for the next reporting period to be reported on will differ by at least 20% from those of the
previous corresponding period.

Shareholders are advised that the company’s interim financial results for the six months to
31 December 2018 are expected to show an improvement when compared to the previous
corresponding period due mainly to the inclusion of the profit on the disposal of its associate
investment in SoftBev Proprietary Limited (“SoftBev”).

Accordingly, the Company’s earnings per share for the interim period ended 31 December 2018 is
expected to be between 207.4 and 220.0 cents, being between 240.0% and 260.0% higher
compared to earnings per share of 61.0 cents for the six months ended 31 December 2017.

The Company’s headline earnings per share for the six months ended 31 December 2018 is
expected to be between 37.6 and 45.1 cents, being between 38.2% and 26.0% lower compared
to headline earnings per share of 60.9 cents for the six months ended 31 December 2017, which
included the adjustment for the final recognition of the Company’s share of associate income
from SoftBev.

The information on which this announcement has been based has not been reviewed or reported
on by the group’s auditors.

Cape Town
28 January 2019


Sponsor
Arbor Capital Sponsors Proprietary Limited

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