SNT
SNT
SNT - Santam Limited - Trading Statement
SANTAM LIMITED
(Incorporated in the Republic of South Africa)
(Reg. No: 1918/001680/06)
JSE Share Code: SNT & ISIN: ZAE000006854
("Santam")
Trading statement
In terms of the Listings Requirements of the JSE Securities Exchange of South
Africa ("the JSE Listing Requirements") a listed company is required to publish
a trading statement as soon as it becomes aware that the financial results for
the period to be reported on will differ by at least 20% from those of the
previous corresponding period.
Investment results for the year were negatively affected by the turmoil in
financial markets during November and December and ended well below the
exceptional levels of 2006. Although the domestic underwriting results were
satisfactory across most classes for the year, the last two months` results were
adversely affected by floods and large industrial claims. In addition the
European operations incurred significant underwriting losses. Earnings were also
reduced by the large STC charge emanating from the special dividend paid in
December 2007.
Accordingly, Santam is expecting headline and basic earnings per share for the
full year ended 31 December 2007 to be between 40% and 45% below the levels of
the corresponding prior period. The information in this trading statement has
not been reviewed or reported on by Santam`s auditors.
The audited results for the year ended 31 December 2007 are expected to be
published on 26 February 2008.
By order of the board
Cape Town
18 February 2008
Sponsor:
Investec Bank Limited
Date: 18/02/2008 14:13:01 Produced by the JSE SENS Department.
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