African Bank Investments Limited - Trading Stateme
African Bank Investments Limited - Trading Statement In Respect Of The Six
Months Ended 31 March 2005
AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registered bank controlling company)
(Registration number 1946/021193/06)
(Ordinary share code: ABL) (ISIN: ZAE000030060)
(Preference share code: ABLP)(ISIN: ZAE000065215)
(`ABIL`)
TRADING STATEMENT IN RESPECT OF THE SIX MONTHS
ENDED 31 MARCH 2005
In terms of the listings requirements of the JSE Securities Exchange South
Africa, companies are required to publish a trading statement as soon as they
become reasonably certain that the financial results for the period to be
reported on next will be more than 20% different from that of the previous
corresponding period.
ABIL`s interim results for the six months to 31 March 2005 will be released on
16 May 2005. Indications are that headline earnings per share and earnings per
share will be approximately 30% higher than the 69.2 cents and 68.6 cents per
share reported for the six months ended 31 March 2004.
The improved performance may be attributed to the following factors
Good sales in the first half resulting in an improving mix in the portfolio
between the lending books and the pay down books which in turn has also lifted
overall margins.
A continuing favourable credit market, which has resulted in steady credit
quality and a further reduction in overall non-performing loans.
The drive to improve the operating cost efficiency has continued to yield
results.
A lower STC charge due to the lower special dividend paid in December 2004 in
comparison to that paid in December 2003.
This forecast has not been reviewed and reported on by the company`s auditors.
Johannesburg
31 March 2005
Issued by Sponsor
Deutsche Securities (SA) (Pty) Limited
Date: 31/03/2005 02:25:13 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
