Trading Statement

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1968/013656/06
ISIN: ZAE000028304
Share Code: BEL
("the Company")

TRADING STATEMENT

Shareholders are advised that the Company expects to report
earnings per share and headline earnings per share of at least 750
cents, an increase of 272 cents per share or 57% and of 277 cents
per share or 59% respectively, for the year ending 31 December
2023 when compared to the earnings per share and headline earnings
per share of 478 cents and 473 cents respectively for the year
ended 31 December 2022. A further trading statement for the year
ending 31 December 2023 will be released on SENS once the Company
has greater certainty regarding the extent of the expected increase
in its results for the year ending 31 December 2023.

The expected increase in earnings is mainly due to stronger market
demand.

The financial information on which this trading statement is based
has not been reviewed and reported on by the Company's external
auditors.

The results for the year ending 31 December 2023 are expected to
be announced on SENS on or about 29 March 2024.

Richards Bay
7 November 2023
Sponsor: INVESTEC BANK LIMITED


Date: 07-11-2023 04:56:00
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