MET / MTD - Metropolitan Holdings Limited - Trading Statement
MET
MET
MET / MTD - Metropolitan Holdings Limited - Trading Statement
Metropolitan Holdings Limited
Incorporated in the Republic of South Africa
Registration Number: 2000/031756/06
JSE share code: MET
NSX share code: MTD
ISIN: ZAE000050456
("Metropolitan" or "the company")
Trading statement in terms of the JSE Listing Requirements
Metropolitan`s results for the year ended 31 December 2009 will be released on
10 March 2010. In terms of 3.4(b)(i) of the JSE Listings Requirements, listed
companies must publish a trading statement as soon as they are satisfied that a
reasonable degree of certainty exists that the financial results for the period
to be reported upon next will differ by at least 20% from the financial results
for the previous corresponding period.
Investment market values increased significantly over the latter part of the
year, resulting in higher overall investment returns and a net capital
appreciation on the group`s shareholder funds. This contrasts with the mark-to-
market losses reported in 2008.
Shareholders are therefore advised that the group`s diluted earnings per share
and diluted headline earnings per share are expected to be between 180 and 200
cents per share, significantly up when compared to losses of 27 and 20 cents
respectively per share in 2008.
The lower average asset levels experienced during 2009 as compared to 2008,
however, will have contributed to a reduction in the diluted core headline
earnings per share of between 5% and 10% when compared to the 2008 results. This
change is better than that reported for the first half of the financial year.
The forecast financial information on which this trading statement is based has
not been reviewed and reported on by Metropolitan`s external auditors.
Bellville
24 February 2010
Sponsor
Merrill Lynch South Africa (Pty) Ltd
Please note: Core headline earnings per share, as defined on page 34 of the 2008
annual report, eliminates items of both a once-off and an inherently volatile
nature, such as changes to the valuation basis, capital
appreciation/depreciation and investment variances.
Date: 24/02/2010 11:45:02 Produced by the JSE SENS Department.
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