SFN/SFNP - Sasfin Holdings - In respect of Sasfin`s Group results for the six
SFN SFNP
SFN
SFN/SFNP - Sasfin Holdings - In respect of Sasfin`s Group results for the six
months ended 31 December 2009.
Sasfin Holdings Limited
(Incorporated in the Republic of South Africa)
"Sasfin" or "the Group" or "the Company"
Ordinary share code: SFN
ISIN: ZAE000006565
Preference share code: SFNP
ISIN: ZAE000060273
Trading Statement in respect of Sasfin`s Group results for the six months ended
31 December 2009.
In terms of the Listings Requirements of the JSE Limited, a listed company is
required to publish a trading statement as soon as a reasonable degree of
certainty exists that the financial results for the next reporting period to be
reported on will differ by at least 20% from those of the previous corresponding
period.
Shareholders are advised that the Group expects that headline earnings for the
six months ending 31 December 2009 will be between 20% to 40% lower when
compared with the previous corresponding period in 2008, primarily driven by
lower business volumes, increased credit impairments and lower private equity
investment gains due to the deterioration in economic conditions, as well as
increased overheads incurred in infrastructural development in anticipation of
increased activity and regulation.
Earnings per share and headline earnings per share for the six months ending 31
December 2009 are expected to be between 25% and 45% lower when compared to the
previously reported corresponding period, due to the dilutory effect of the
Group`s increased capital base following the capital injection by the
International Financial Corporation as announced on 5 October 2009.
The financial information on which this trading statement is based has not been
reviewed or reported on by Sasfin`s auditors.
The Company`s results for the six months ending 31 December 2009 will be
published on or about 5 March 2010.
Johannesburg
23 December 2009
Joint Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Lead Sponsor
KPMG
Date: 23/12/2009 08:30:01 Produced by the JSE SENS Department.
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