CKS 201511250056A
Trading statement
Crookes Brothers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS ISIN: ZAE000001434
(“the Company” or “CBL” or “the group”)
TRADING STATEMENT
In advance of the publication of the interim results for the six month period ended 30 September
2015, on or about 1 December 2015, shareholders are advised that:
- earnings per share is expected to be between 174.1 and 187.5 cents, being an increase of
between 159.1% and 179.0%, compared to 67.2 cents per share in the corresponding prior
period; and
- headline earnings per share is expected to be between 174.8 and 188.0 cents, being an
increase of between 164.8% and 184.8% compared to 66.0 cents per share in the
corresponding prior period;
The improvement in earnings is as a result of the poor Swaziland cane crop in the previous
corresponding period due to strike action, and early harvesting and consequent early recognition
of cane revenue in the current year.
Joint Venture (“JV”)
An agreement was recently concluded with the community owners of a large part of the leased
Komati Estate for a 20 year JV for the operation of the farm. In terms of this agreement CBL will
terminate its current 10 year lease agreement four years ahead of schedule, in return for the
extended term of the JV agreement. While this will have a negative impact on short term
profitability, the long term sustainable benefits for all stakeholders are significant.
Drought
The board cautions shareholders that should the drought continue, it may have a material
negative impact on the group’s earnings for the current financial year.
The information in this trading statement has not been reviewed or reported on by the Company’s
auditors.
Mount Edgecombe
25 November 2015
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
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