BELL EQUIPMENT LIMITED - Updated Trading Statement

Updated Trading Statement

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1968/013656/06
ISIN: ZAE000028304
Share Code: BEL
(“the Company”)

UPDATED TRADING STATEMENT

Shareholders are referred to the trading statement released on
SENS on 4 December 2019 wherein it was reported that the Company’s
earnings per share (“EPS”) and headline earnings per share (“HEPS”)
were expected to be at least 25% lower (71 cents lower) for the
year ended 31 December 2019 when compared to the EPS and HEPS of
283 cents and 278 cents respectively for the year ended 31 December
2018.

Shareholders are further advised that the Company’s EPS and HEPS
are now both expected to be at least 70% lower (198 cents lower)
for the year ended 31 December 2019 when compared to the EPS and
HEPS of 283 cents and 278 cents respectively for the year ended 31
December 2018. A further trading statement for the year ended 31
December 2019 will be released on SENS once the Company has
reasonable certainty regarding the extent of the expected decrease
in its results for the year ended 31 December 2019.


The expected decrease in earnings is mainly due to the following:
  • The IFRS 2 Share-based payment charge relating to the Black
     Economic Empowerment Transaction announced on SENS on 11
     December 2019.
  • A slow-down in market demand and strong pricing competition
     in the markets in which the group is active, especially in
     South Africa, in the second half of 2019.
  • High interest costs on higher than planned inventory levels.

The financial information on which this trading statement is based
has not been reviewed and reported on by the Company’s external
auditors.


The results for the year ended 31 December 2019 are expected to be
announced on SENS on or about 30 March 2020.

Richards Bay
16 March 2020

Sponsor: INVESTEC BANK LIMITED






Date: 16-03-2020 09:49:00
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