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WILSON BAYLY HOLMES-OVCON LIMITED - Trading Statement

Release Date: 12/02/2019 16:24
Code(s): WBO     PDF:  
 
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Trading Statement

WILSON BAYLY HOLMES - OVCON LIMITED
Building and civil engineering contractors
(Registration no. 1982/011014/06)
ISIN No: ZAE 000009932
Share code: WBO


TRADING STATEMENT
The directors of WBHO hereby advise shareholders that, in respect of the unaudited consolidated interim results for the period
ended 31 December 2018, earnings per share and headline earnings per share are expected to vary by the percentages and
amounts included in the table below:-


                                                                31 December             31 December            31 December
                                                                    FY18                    FY18                   FY17
                                                              % range between             between
 Total operations

 Earnings per share (cents)                                     80% to 100%              147 and 0                 736,5
                                                                    down
 
 Headline earnings per share (cents)                             80% to 100%             145 and 0                 726,8
                                                                    down



The operating performance of the group over the first six months of the financial year will be negatively affected upon the
recognition of a material provision in respect of the anticipated loss to complete the OSAR Western Roads infrastructure project
in Australia. The completion of contract anticipated loss is due to the interpretation of the technical specifications within the
contract bid design resulting in the underestimation of the physical construction works required under the design and construct
contract. The Group is investigating all possible recoveries.

The group’s Africa and UK operations have operated well and in line with expectations.

The financial results for the period to 31 December 2018 are expected to be released on SENS 26 February 2019.

This statement has not been reviewed or reported on by the Company’s auditors.


By order of the board


Johannesburg
12 February 2019


Sponsor: Investec Bank Limited

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