SLM
SLM
SLM / SLA - Sanlam Limited - Trading Statement
Sanlam Limited
(Incorporated in the Republic of South Africa)
(Registration number 1959/001562/06)
JSE share code: SLM
NSX share code: SLA
ISIN number: ZAE000070660
("Sanlam" or the "Sanlam Group")
Trading Statement
In terms of the JSE Limited Listings Requirements a listed company is required
to publish a trading statement as soon as it is satisfied that a reasonable
degree of certainty exists that the financial results for the period will differ
by at least 20% from that reported for the previous corresponding period.
The Sanlam Group achieved sound operating results for the year to 31 December
2007, with satisfactory growth achieved in Core Earnings and new business
volumes. Core Earnings per share and the Value of New Life insurance business
for the year are both expected to be between 25% and 30% up on 2006.
The slowdown in equity market performance in 2007, relative to the exceptional
performance in 2006, however, had a negative impact on the level of investment
returns achieved for the year. In addition to the equity market impact, Santam`s
contribution to Sanlam`s results was also to a lesser extent affected by
underwriting losses and provisions in Santam`s European operations. Sanlam`s
Headline Earnings per share, including the IFRS impact of Sanlam shares held by
the policyholders` funds, are therefore expected to be between 25% and 30% lower
than for the corresponding period in 2006.
The information in this trading statement has not been reviewed or reported on
by Sanlam`s auditors. The audited results for the year ended 31 December 2007
are expected to be announced on 6 March 2008.
Bellville
29 February 2008
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 29/02/2008 10:30:01 Produced by the JSE SENS Department.
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