Firstrand - Trading Statement
FIRSTRAND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
ISIN: ZAE000014973
Share Code (JSE): FSR
Share Code (NSX): FST
(`FirstRand` or `the Company`)
TRADING STATEMENT IN RESPECT OF THE SIX MONTH PERIOD ENDED 31 DECEMBER 2004
In compliance with the JSE Securities Exchange South Africa Listings
Requirements, FirstRand shareholders are advised that the group`s headline
earnings per share (which includes translation losses) as well as fully diluted
headline earnings per share for the six-month period ended 31 December 2004 are
expected to exceed the comparative period by marginally more than 20%.
This is due to the FirstRand portfolio of businesses benefiting from the
favourable operating environment for financial services.
Furthermore, the FirstRand Group sold its wholly-owned subsidiary, Ansbacher,
during the period under review. This has resulted in a transfer from the
currency translation reserves to attributable earnings of R413 million (before
cost incurred of R17 million resulting in a net R396 million). Attributable
earnings and earnings per share will, therefore, exceed the comparative period
by 30% - 36%. This transfer is excluded from the calculation of headline
earnings as the transfer is not part of the operational performance of the
group.
The financial information on which this trading statement is based has not been
reviewed and reported on by the Company`s auditors.
The full details of the financial results will be released on SENS on 1 March
2005 and in the press on 2 March 2005.
Sandton
23 February 2005
Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
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