LBH - Liberty Holdings Limited - Trading statement
LBH
LBH
LBH - Liberty Holdings Limited - Trading statement
Liberty Holdings Limited
Registration number 1968/002095/06
Incorporated in the Republic of South Africa
Share code: LBH
ISIN code: ZAE000127148
Trading statement in terms of the JSE Listings Requirements
Liberty Holdings Limited`s results for the twelve months ended 31 December 2008
will be published on 26 February 2009. This trading statement is issued in terms
of the JSE Listing Requirements.
On 21 October 2008, shareholders approved the reorganisation of the Liberty
Holdings Limited and Liberty Group Limited corporate structures, effective 1
December 2008. In terms of this, Liberty Group Limited became a wholly-owned
subsidiary of Liberty Holdings Limited and Liberty Group Limited was delisted.
The 2008 financial year saw investment markets significantly underperform when
compared to the strong investment markets of 2007. This negatively impacted the
group`s earnings for 2008, particularly when compared to the high earnings base
set in the previous year.
The basic and headline earnings per share of Liberty Holdings Limited is
expected to be between 25% and 35% lower than that reported in 2007.
For information purposes, Liberty Group Limited`s headline earnings per share is
expected to be between 45% and 55% lower than that reported in 2007. Liberty
Group Limited`s headline earnings per share excluding investment gains and
losses on shareholders` portfolios, is expected to be 25% to 35% lower than that
reported in 2007. These results include the impact of negative returns on
shareholder participation portfolios. Insurance and asset management operating
earnings are expected to be in line with 2007 results.
Liberty Holdings Limited remains well capitalised, with the capital adequacy
level of Liberty Group Limited marginally ahead of the 2.5 times cover reported
in the overview of trading published on 20 November 2008.
The information contained in this announcement has not been reviewed or audited
by the company`s external auditors either in terms of paragraph
3.4(b)(vi)(1)(aa) or 3.4(b)(vi)(1)(bb) of the JSE Listings Requirements.
Johannesburg
13 February 2009
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 13/02/2009 08:00:02 Produced by the JSE SENS Department.
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