Santam Limited - Trading Statement
SANTAM LIMITED
(Incorporated in the Republic of South Africa)
(Reg. No: 1918/001680/06)
JSE Share Code: SNT ISIN: ZAE000006854
(`Santam`)
Trading statement
In terms of the Listings Requirements of the JSE Securities Exchange of South
Africa (`the JSE Listing Requirements`) a listed company is required to publish
a trading statement as soon as it becomes aware that the financial results for
the next period to be reported on will differ by at least 20% from those of the
previous corresponding period.
The domestic underwriting environment has continued to be favourable across all
classes of business during the second half of the financial year, with lower
claims ratio`s, revised cashflow management and reinsurance strategy
contributing significantly to increased profitability. The strong equity market
further contributed positively towards increased earnings.
Shareholders are advised that should the current underwriting experience and
general investment market conditions remain in line with expectations until 31
December 2004, Santam is expecting an increase of between 70% and 90% in both
its headline earnings and basic earnings per share for the full year ending 31
December 2004 compared to that of the previous corresponding period.
The forecast has not been reviewed or reported on by Santam`s auditors. The
release of the final announcement of results for the year-ended 31 December 2004
is expected to be published on or about 23 February 2005.
By order of the board
Cape Town
23 November 2004
Sponsor:
Investec Bank Limited
Date: 23/11/2004 05:16:04 PM
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