Trading statement in respect of the financial year
RMBH - Trading statement in respect of the financial year ending 30 June 2005
RMB HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1987/005115/06)
ISIN : ZAE000024501
Share Code : RMH
(`RMBH` or `the Company`)
TRADING STATEMENT IN RESPECT OF THE FINANCIAL YEAR ENDING 30 JUNE 2005
Shareholders are referred to the trading statement issued by the Company`s
associate FirstRand Limited (`FirstRand`) on 2 June 2005.
In that announcement, in compliance with the JSE Securities Exchange South
Africa Listings Requirements, FirstRand advised that:
- its headline earnings per share (which includes translation gains or
losses); as well as its fully diluted headline earnings per share for the
financial year ending 30 June 2005 are expected to exceed the comparative
period by between 20% and 25%.
FirstRand reported that this is primarily due to:
- its businesses benefiting from the favourable operating environment for
financial services; and that
- the significant currency translation loss incurred during the 2004
financial year is not expected to re-occur in the 2005 financial year,
given the current Rand : US Dollar exchange rate.
FirstRand has previously announced that it had disposed of its wholly-owned
subsidiary, Ansbacher Holdings Limited, during the year under review. Included
in FirstRand`s attributable earnings is a transfer from currency translation
reserves of R396 million arising from the disposal. This amount is excluded from
the calculation of its headline earnings. As a consequence, FirstRand`s
attributable earnings will exceed that of the corresponding reporting period by
between 25% and 30%.
As its investment in FirstRand produces the bulk of RMBH`s earnings, it is
anticipated that the impact outlined in FirstRand`s trading statement will, to a
large extent, flow through into RMBH`s results for the year ended 30 June 2005.
The financial information on which this trading statement is based has not been
reviewed and reported on by the Company`s auditors.
Full details of RMBH`s financial results is expected to be released on SENS on
21 September 2005 and published in the press on 22 September 2005.
2 June 2005
Sandton
Merchant Bank and Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Date: 03/06/2005 09:17:40 AM
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