FirstRand- Updated Trading Statement in respect of
FirstRand- Updated 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`)
Updated trading statement in respect of the financial year ending 30 June 2005,
in compliance with the JSE Limited Listings Requirements.
FirstRand shareholders are referred to the trading statement released on SENS on
3 June 2005. At the time of the SENS announcement the Group was expecting a
foreign currency translation loss for the year, however the actual Rand:US
Dollar rate at 30 June 2004 has resulted in a foreign currency translation
profit for the year. In the comparative period in 2004 the Group incurred a
foreign currency translation loss of R370 million.
As a consequence FirstRand shareholders are advised that the Group`s headline
earnings per share (which includes foreign currency 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 25% to 35% as
opposed to between 20% and 25% as reported in the trading statement released on
SENS on 3 June 2005.
Attributable earnings will exceed that of the corresponding reporting period by
between 35% and 45% as opposed to between 25% and 30% as reported on in the
trading statement released on SENS on 3 June 2005.
Included in the attributable earnings is a transfer from currency translation
reserves of R346 million arising from the disposal of Ansbacher Holdings
Limited. This amount is excluded from the calculation of headline earnings.
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.
12 September 2005
Sandton
Merchant Bank and Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Date: 12/09/2005 10:27:34 AM
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