MOR - Morvest Business Group Limited - Revised Trading Update
MOR
MOR
MOR - Morvest Business Group Limited - Revised Trading Update
Morvest Business Group Limited
(Previously Simeka Business Group Limited)
(Incorporated in the Republic of South Africa)
(Registration No. 2003/012583/06)
Share code: MOR ISIN code: ZAE000152567
("Morvest" or "the company")
REVISED TRADING UPDATE
Shareholders are referred to the trading update announcement released on SENS on
5 July 2011.
In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited
companies are required to publish a trading statement in the event that they are
satisfied that a reasonable degree of certainly exists that the earnings
per share and headline earnings per share results will differ from the previous
corresponding year-end by at least 20%.
Morvest shareholders are advised that for the 12 month period ended 31 May 2011
the company expects:
- revenue to be between 15% and 19% higher than for the 12 month period ended
31 May 2010;
- headline earnings after tax to be between 15% and 19% higher than for the
12 month period ended 31 May 2010;
- headline earnings per share to be between 6.0 cents and 6.5 cents per
share;
- headline earnings per share (diluted weighted in issue and to be issued) to
be between 5.0 cents and 5.5 cents per share;
- earnings per share up from the prior year loss of 44.7 cents per share to
be between 2.0 cents and 2.5 cents;
- actual cash on hand as at 31 May 2011 of R84.5 million.
The financial results on which this trading update has been based have not been
reviewed or reported on by the company`s auditors.
The financial results of the company will be published on SENS on or about 17
August 2011.
8 August 2011
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 08/08/2011 10:02:02 Produced by the JSE SENS Department.
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