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RMH
RMH
RMH - RMB Holdings Limited - Trading Statement: Financial year ended 30 June
2010
RMB HOLDINGS LIMITED
(Incorporated in South Africa)
Registration number: 1987/005115/06
ISIN: ZAE000024501
Share Code: RMH
("RMBH" or "the Company")
TRADING STATEMENT: FINANCIAL YEAR ENDED 30 JUNE 2010
Shareholders are referred to the trading statement issued earlier today by the
Company`s associate, FirstRand Limited ("FirstRand").
In that announcement FirstRand highlighted to its shareholders that, as
projected at the interim reporting date, its operating environment had continued
to be challenging with revenue from banking activities remaining under pressure.
However, bad debts have continued to reduce in line with expectations and
consequently, WesBank`s earnings have recovered strongly, the losses at FNB
Homeloans have reduced significantly and FNB Card has returned to profitability.
In addition, RMB`s Equity Trading division will be profitable for the year and
its Private Equity division has realised a material investment. FirstRand
therefore believes that its diluted normalised Earnings Per Share for the year
to 30 June 2010 will increase by between 32% and 42%.
The remainder of RMBH`s portfolio has continued to perform in line with the
trends reported at the interim stage.
Consequently, guidance for the increase in RMBH`s Earnings Per Share ("EPS"),
Headline Earnings Per Share ("HEPS") and diluted normalised EPS for the year to
June 2010 is as follows:
Year to Guidance for
June 2009 the year to
June 2010
Actual EPS 207.1 37% - 47%
Actual HEPS 219.7 31% - 41%
Normalised EPS 207.9 37% - 47%
The financial information on which this trading update is based has not been
reviewed and reported on by the Company`s independent auditors.
Details of RMBH`s results for the financial year ending 30 June 2010 are
expected to be released on SENS and published in the press on or about 15
September 2010.
Sandton
10 June 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 10/06/2010 12:52:07 Produced by the JSE SENS Department.
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