VALUE GROUP LIMITED - Trading update

Release Date: 12/10/2018 09:45
Code(s): VLE
 
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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 interim period ended 31 August 2018, the company benefitted from increased
volumes from certain existing and new customers. The associated increased revenue and
restructured overhead costs resulted in earnings growth. In addition, the once-off BEE
equity transaction costs, which were incurred in the company’s previous interim reporting
period ended 31 August 2017, 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
interim period ended 31 August 2018 will be higher than that achieved in the previous
corresponding period. This translates to headline earnings per share ranging from 31,3 to
32,4 cents per share in relation to the comparative period (5,4 cents per share). In addition,
basic earnings per share for the interim period ended 31 August 2018 will be higher than
that achieved in the previous corresponding period. This translates to basic earnings per
share ranging from 29,8 to 30,7 cents per share in relation to the comparative period (4,8
cents per share).

Excluding the once-off BEE equity transaction cost incurred in the previous period,
normalised headline earnings per share for the interim period ended 31 August 2018 will be
70% to 90% higher than that achieved in the previous corresponding period. This translates
to normalised headline earnings per share ranging from 30,3 to 33,8 cents per share in
relation to the comparative period (17,8 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 6 months ended 31 August 2018
will be published on or about 24 October 2018.




Johannesburg
12 October 2018


Sponsor:
Investec Bank Limited

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