SLM
SLM
SLM - 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.
Despite the impact of the adverse economic conditions in 2009 the Sanlam Group
achieved satisfactory operating results for the year to 31 December 2009.
Growth in Core Earnings per share is expected to be approximately in line with
the -2% reported for the six months to June 2009.
The 29% increase in the JSE All Share Index during 2009 had a positive impact
on the level of investment return achieved for the year. Sanlam`s Headline
Earnings per share, including the IFRS impact of Sanlam shares held by the
policyholders` funds, are expected to be between 60% and 70% higher than for
the corresponding period in 2008. Normalised Headline Earnings per share are
expected to be between 130% and 140% higher. The percentage increase in
Normalised Headline Earnings per share is lower than that reported in the
Operational Update issued early in December 2009 in respect of the ten months
to October 2009. This is due to the lower relative investment market
performance in the last two months of the year compared to the same period in
2008.
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 2009
are expected to be announced on 11 March 2010.
Bellville
11 February 2010
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 11/02/2010 14:00:02 Produced by the JSE SENS Department.
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