REM
REM
REM - Remgro Limited - Trading Statement
Remgro Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/006415/06)
ISIN: ZAE000026480
Share code: REM
("Remgro" or "the Company")
TRADING STATEMENT
Paragraph 3.4 (b) of the Listings Requirements of the JSE Limited ("JSE
Listings Requirements") requires companies to publish a trading statement as
soon as they become reasonably certain that the financial results for the
period to be reported upon next will differ by at least 20% from that of the
previous corresponding period.
Remgro is currently finalising its results for the six months ended 30
September 2010, which is due to be released on SENS on or about 25 November
2010.
In compliance with the JSE Listings Requirements, shareholders are advised
that Remgro`s reported headline earnings per share ("HEPS") is expected to be
between 54% and 58% higher than the HEPS of the comparative period ended 30
September 2009.
This increase in HEPS is mainly attributable to the following:
higher earnings reported by both FirstRand Limited and RMB Holdings Limited
than in the comparative period mainly due to a significant reduction in bad
debts and improved profitability in both RMB and Wesbank;
higher earnings from Total South Africa (Pty) Limited due to favourable stock
revaluations and savings in operating costs in the period under review
compared to stock revaluation losses in the comparative period; and
higher earnings from Kagiso Trust Investments (Pty) Limited mainly due to
favourable fair value adjustments relating to its shareholdings in
Metropolitan Holdings Limited and Adcock Ingram Holdings Limited.
The financial information on which this trading statement is based has not
been reviewed and reported on by the Company`s auditors.
Stellenbosch
9 November 2010
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 09/11/2010 17:05:01 Produced by the JSE SENS Department.
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