SBV SVN
SBV
Sabvest - Trading Statement and Subsequent Events
SABVEST LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003753/06)
Ordinary shares: Share code: SBV ISIN: ZAE000006417
N Ordinary shares: Share code: SVN ISIN: ZAE000012043
("Sabvest" or "the company")
TRADING STATEMENT AND SUBSEQUENT EVENTS
Shareholders are advised that Sabvest expects its interim headline earnings per
share and earnings per share for the six months ended 30 June 2006 to increase
by approximately 31% and 34% respectively over the comparative period for the
prior year.
These estimates are unaudited. The company expects to publish interim unaudited
results during September 2006.
SUBSEQUENT EVENTS
Subsequent to the interim reporting date, Sabvest has disposed of its profit
participations in distressed debt portfolios held through The Pioneer Trust and
has also received early repayment of corporate debt instruments held by it and
carried by it at a discount to face value.
As a result of these events Sabvest has realised a one-off trading profit of
R27m after tax which equates to 59 cents per share.
This unbudgeted profit will be accounted for in the second six month period and
will increase the group"s headline earnings per share and earnings per share for
the full year accordingly.
Sandton
18 August 2006
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 18/08/2006 03:01:05 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
