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AFRICAN & OVERSEAS ENTERPRISES LIMITED - Further trading statement

Release Date: 08/02/2019 17:15
Code(s): AON AOO AOVP     PDF:  
 
Wrap Text
Further trading statement

AFRICAN AND OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
JSE share code: AOO   ISIN: ZAE000000485
JSE share code: AON   ISIN: ZAE000009718
JSE share code: AOVP  ISIN: ZAE000000493
("AOE")


FURTHER TRADING STATEMENT


Shareholders are referred to the trading statement released on SENS on 14 December 2018 wherein AOE advised
shareholders that:

-     it expected its earnings per share ("EPS") for the six months ending 31 December 2018 to increase by at
      least 20% from earnings of 31.7 cents per share reported by AOE for the six months ended 31 December
      2017, and its headline earnings per share ("HEPS") for the six months ending 31 December 2018 to
      increase by at least 20% from headline earnings of 31.8 cents per share reported by AOE for the six months
      ended 31 December 2017; and

-     it had not yet reached the end of the abovementioned reporting period, and that AOE and its subsidiaries
      continued to trade in difficult times, making it difficult to provide a more precise percentage (other than the
      default percentage noted above) at that stage.

Following the conclusion of the abovementioned reporting period, AOE is in a position to advise shareholders
that, despite tough trading conditions, results have continued to exceed management’s expectations and
shareholders are accordingly advised that:

-     AOE's EPS for the six months ended 31 December 2018 are expected to be between 106.7 and 113.1 cents
      per share, being an improvement of between 237% and 257% from earnings of 31.7 cents per share
      reported by AOE for the six months ended 31 December 2017; and

-     AOE's HEPS for the six months ended 31 December 2018 are expected to be between 105.9 and 112.3
      cents per share, being an improvement of between 233% and 253% from headline earnings of 31.8 cents
      per share reported by AOE for the six months ended 31 December 2017.

The information on which this trading statement has been based has not been reviewed or reported on by AOE's
auditors. The financial results for the six months ended 31 December 2018 are expected to be published on or
about 15 March 2019.

8 February 2019


Sponsor
Java Capital

Date: 08/02/2019 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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