SOH 201302260005A
Trading Statement
SOUTH OCEAN HOLDINGS
(Registration number 2007/002381/06)
Incorporated in the Republic of South Africa
('South Ocean Holdings', 'the Group' or 'the Company')
Share code: SOH ISIN: ZAE000092748
Trading Statement
South Ocean Holdings' headline earnings per share for the 12 months ended 31st
December 2012 is expected to be between 20% to 30% higher than for the corresponding
prior year and earnings per share is expected to be between 100 cents to 110 cents lower
than for the corresponding prior year. The decrease in earnings relates to an impairment
charge of R175 million to goodwill arising on the acquisition of the Radiant Group in 2007.
The impairment was necessitated due to a decrease in earnings of the subsidiary, resulting
from current market conditions and the further disruption due to the nationwide transport
sector strike in September 2012. As reported in the corresponding prior year, headline
earnings per share was 30.6 cents and earnings per share was 29.3 cents.
The financial information on which this trading statement is based has not been reviewed
or reported on by South Ocean Holdings' external auditors. The audited results for the
12 months ended 31 December 2012 are expected to be published on or about the 28th
February 2013.
By order of the board
26th February 2013
Alrode
Sponsor
Investec Bank Limited
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