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NED - Nedbank Group Limited - Trading Statement
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
(`Nedbank Group` or `the group`)
NEDBANK GROUP - TRADING STATEMENT
The following statement is made with reference to paragraph 3.4 (b) of the JSE
Listings Requirements that companies are required to 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 results of the previous corresponding period.
In February 2011 Nedbank Group reported it was well placed for earnings growth
in the year ahead and that it remained on track to meet its medium-to long-term
financial targets in 2013. In May 2011 the group reported that it had a good
first quarter and made strong progress against its strategic objectives,
resulting in ongoing improvement in performance, building on the momentum
created in the second half of 2010.
The group is pleased to report continued earnings and growth momentum.
Accordingly, the board is satisfied that a reasonable degree of certainty exists
that diluted headline earnings per share (EPS) and diluted basic EPS for the six
month period ended 30 June 2011 will be at least 20% higher than the 475 cents
per share and 474 cents per share respectively reported for the comparative
period to June 2010. Further guidance will be provided as soon as there is a
reasonable degree of certainty in terms of the extent of the expected
improvement in performance.
Shareholders are advised that the financial information on which this trading
statement is based has not been reviewed or reported on by the group`s auditors.
Nedbank Group`s results for the six months ended 30 June 2011 will be released
on SENS on Monday, 1 August 2011.
Sandton
7 July 2011
Sponsors to Nedbank Group in South Africa:
Merrill Lynch South Africa (Pty) Limited
Nedbank Capital a division of Nedbank Limited
Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Limited
Date: 07/07/2011 10:00:03 Produced by the JSE SENS Department.
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