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SBV
SBV
SBV/SVN - Sabvest Limited - Trading Statement
SABVEST LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1987/003753/06
ISIN: ZAE000006417 - ordinary shares
ISIN: ZAE 000012043 - "N" ordinary shares
Share code: SBV - ordinary shares
Share code: SVN - "N" ordinary shares
("Sabvest" or "the group")
TRADING STATEMENT
In its interim results announcement published on 30 July 2009, Sabvest advised
shareholders that "the businesses operated by the group`s associates and by the
group`s investee companies continue to have sound medium-term growth prospects.
However, the current economic downturn will continue to affect the short-term
profitability of some of the businesses and the group`s results will also be
impacted by movements in fair values. At this stage it is not possible to
project with any accuracy the likely results for the year or whether dividends
will be maintained."
Subsequent to that time, share prices on the JSE Limited ("JSE") have continued
to increase and Sabvest has disposed of some of its portfolio investments at the
higher prices. In addition, the trading results of most of the group`s unlisted
associates have stabilized and one of its associates has concluded a material
corporate transaction which will benefit Sabvest`s 2009 results.
Sabvest accordingly advises shareholders that it anticipates results for the
year to 31 December 2009 to be in the following ranges:
2009 2008 Increase
cents per cents per (%)
share share
Headline earnings per 105c - 120c 89,9c 16.8% - 33.5%
share (HEPS)
Earnings per share (EPS) 125c - 140c 17,4c 618.4% - 704.6%
Dividends per share (DPS) 14c 14c -
With regard to the EPS increase, shareholders should bear in mind that the prior
year`s EPS were affected by substantial one-off costs for a legal settlement
which resulted in them being abnormally low.
The figures contained in this trading statement have not been reviewed and
reported on by the Sabvest`s auditors. Reviewed results for the year are
expected to be released on SENS at the end of February 2010.
Sandton
2 November 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 02/11/2009 15:59:29 Produced by the JSE SENS Department.
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