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Trading Update
Value Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1997/002203/06
Share code: VLE
ISIN code: ZAE000016507
(“Value” or “the company’)
TRADING UPDATE
In terms of the listings requirements of the JSE Limited, a listed company is required to
publish a trading update as soon as it becomes reasonably certain that the financial results
for the period to be reported on next will show a 20% or more difference from the previous
corresponding period.
In the year ended 28 February 2019, organic growth from new and certain existing
customers contributed positively to the company’s annual results. The associated increase
in revenue and curtailment of overhead cost escalations resulted in an increase in earnings.
In addition, the once-off BEE equity transaction costs, which were incurred in the company’s
previous reporting period ended 28 February 2018, had a negative effect on the prior
period’s earnings. Consequently, the comparative headline and basic earnings per share
figures were reduced. Accordingly, shareholders are advised that headline earnings per
share for the year ended 28 February 2019 will be higher than that achieved in the previous
corresponding year. This translates to headline earnings per share ranging from 80 to
91,7 cents per share (an increase of between 36% and 56%) in relation to the comparative
period (58,7 cents per share). In addition, basic earnings per share for the year ended 28
February 2019 will be higher than that achieved in the previous corresponding year. This
translates to basic earnings per share ranging from 80 to 90,9 cents per share (an increase
of between 46% and 66%) in relation to the comparative period (54,8 cents per share).
Excluding the once-off BEE equity transaction cost incurred in the previous financial year,
normalised headline earnings per share for the year ended 28 February 2019 will be 13% to
29% higher than that achieved in the previous corresponding year. This translates to
normalised headline earnings per share ranging from 80 to 91,7 cents per share in relation
to the comparative period (71,1 cents per share).
The financial results, on which this trading update has been based, have not been reviewed
nor reported on by Value’s auditors. The results for the 12 months ended 28 February 2019
will be published on or about 10 May 2019.
Johannesburg
24 April 2019
Sponsor:
Investec Bank Limited
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