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THE BIDVEST GROUP LIMITED - Trading Statement

Release Date: 11/02/2022 09:45
Code(s): BVT     PDF:  
Wrap Text
Trading Statement

THE BIDVEST GROUP LIMITED
(“Bidvest” or “The Group”)
(Incorporated in the Republic of South Africa)
(Registration number 1946/021180/06)
JSE Share code: BVT
ISIN: ZAE000117321

TRADING STATEMENT

Continuing in the trends described in the business update issued on 26 November 2021, the Group delivered a
strong financial performance during the interim period to 31 December 2021.

In accordance with Section 3.4(b) (i) of the JSE Listings Requirements, listed companies are required to publish
a trading statement as soon as they become reasonably certain that the financial results for the period to be
reported will differ by at least 20% from those of the previous corresponding period:

-   Group headline earnings per share (HEPS) is expected to be between 35% and 40% higher compared to the
    prior year (1HFY2021: 594.2 cents), translating into a range of between 802 cents and 832 cents.
-   HEPS from continuing operations, which excludes the disposed Bidvest Car Rental, is expected to be
    between 32% and 37% higher compared to the prior year (1HFY2021: 601.7 cents), translating into a range
    of between 794 cents and 824 cents.
-   Normalised HEPS from continuing operations is expected to be 28% to 33% higher compared to the prior
    year (1HFY2021: 651.6 cents), translating into normalised HEPS of between 834 cents and 867 cents. This
    measure excludes acquisition costs, amortisation of acquired customer contracts and COVID-19 expenses
    in the base.
-   Basic earnings per share (EPS) from continuing operations is expected to be between 42% and 47% higher
    compared to the 562.3 cents reported in the prior interim period, translating into a range of between
    798 cents and 826 cents. This is the result of capital impairments on minor associates and business disposals
    in the base.
-   Group basic EPS is expected to be between 44% and 49% higher compared to the prior year (1HFY2021:
    554.8 cents), translating into a range of 799 cents and 827 cents. The disposed Bidvest Car Rental was
    disclosed as a discontinued operation, at a loss of 7.5 cents, in the prior year.

The financial information on which this trading statement is based has not been reviewed and reported on by
the Group’s auditors. The Group expects its interim results to 31 December 2021 to be released on SENS on
28 February 2022.


Date: 11 February 2022
Johannesburg
Sponsor: Investec Bank Limited

Date: 11-02-2022 09:45:00
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