FirstRand - Trading Statement In Respect Of The Financial Year Ending 30 June
2005
Firstrand Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
ISIN : ZAE000066304
Share Code (JSE) : FSR
Share Code (NSX) :FST
(`FirstRand` or `the Company`)
TRADING STATEMENT IN RESPECT OF THE FINANCIAL YEAR ENDING 30 JUNE 2005
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 gains or losses) and 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%.
This is due to the following primary reasons:
- FirstRand`s businesses are benefiting from the favourable operating
environment for financial services;
- The significant currency translation loss (R370 million), 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. Included in the attributable earnings is
a transfer from currency translation reserves of R396 million arising from this
disposal. This amount is excluded from the calculation of headline earnings. As
a consequence, attributable earnings will exceed that of the corresponding
reporting period by between 25% and 30%.
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 20
September 2005 and published in the press on 21 September 2005.
2 June 2005
Sandton
Merchant Bank and Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Date: 03/06/2005 09:16:20 AM
Produced by the JSE SENS Department
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