Absa Group Limited - Trading Statement
Release Date: 21/02/2005 08:34:29 Code(s): ASA
Absa Group Limited - Trading statement
Absa Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/003934/06)
(JSE Code: ASA)(Issuer Code: AMAGB)
(ISIN : ZAE 000013389)
(`Absa`)
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 apparent that the financial results
for the next period to be reported on are expected, with a reasonable degree of
certainty, to differ by at least 20% from those of the previous corresponding
period.
The prevailing low interest rates and favourable retail trading environment have
resulted in an improvement in the operating performance of the retail operations
and a reduction in credit impairment levels of the Group. Shareholders are
accordingly advised that should the current favourable trading environment
continue the percentage headline earnings growth of the Group for the year
ending 31 March 2005 is expected to be in the lower twenties.
Shareholders should also note that because of the strong appreciation in the
Group`s share price, the share options issued in terms of the Group`s black
economic empowerment transaction and the staff incentive scheme are expected to
dilute the growth in headline earnings per share by approximately four
percentage points.
The forecast has not been reviewed or reported on by Absa`s auditors. The
Group`s results for the year ended 31 March 2005 will be released on 30 May
2005.
By order of the board
Issued by:
Willie Roux
Investor Relations
Absa Group Limited
4th floor, Absa Towers East, 170 Main Street, Johannesburg.
Tel: 2711 350-4061. Fax: 2711 350-6487
E-mail: willier@absa.co.za
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