JSE
JSE
JSE - JSE Limited - Trading Statement
JSE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2005/022939/06)
Share Code: JSE
ISIN Code: ZAE000079711
("JSE" or "the Group")
TRADING STATEMENT
Stakeholders of the JSE are advised that, as a result of strong revenue
performance and tight operating cost control for the year ended 31 December
2011, headline earnings per share are expected to be between 23% and 34%
higher than the previous year`s 436.1 cents per share.
Earnings per share are expected to be between 6% and 12% lower than the
previous year`s 445.5 cents per share as a result of, amongst other items:
- capitalisation of staff costs and consultants` fees relating to an
increased allocation of resources to new and existing capital projects
amounting to approximately R141 million (2010: R65 million). This had the
impact of reducing the "personnel expenses"; and
- the impairment of approximately R223 million (2010: R33 million) to the
software under development for the Systems Replacement Project. This was
recognised after careful and detailed examination of the results of the
software testing performed in the second half of 2011 and of the expected
effort required to complete and implement this project. This increased
the "other expenses" but has no cash impact.
Stakeholders are advised that the information provided in this trading
statement has not been reviewed and reported on by the Group`s external
auditors.
Gary Clarke
Group Company Secretary
Sandton
6 March 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 06/03/2012 15:54:35 Produced by the JSE SENS Department.
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