Business Connexion Group Limited - Trading Stateme
BCX
BCX
Business Connexion Group Limited - Trading Statement
Business Connexion Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/005282/06)
Share code: BCX
ISIN code: ZAE000054631
("Business Connexion" or "the Company")
TRADING STATEMENT
Business Connexion is currently finalising its results for the period ended 30
November 2005, which should be released on SENS on 14 February 2006. In this
regard the Company is obliged to issue a trading statement in circumstances
where the variance in earnings per share ("EPS") is greater than 20% when
compared to the EPS for the corresponding reporting period. The November 2004
results included a gain of R73.8m realised on the sale of Mosaic Software
Holdings Limited which represented 30.2 cents per share. No similar gain was
enjoyed in the period ending November 2005 therefore EPS will be 60% lower than
the corresponding reporting period of the previous year.
Headline earnings per share ("HEPS") will be 7% lower than the corresponding
reporting period of the previous year. This variance does not take into account
the effect of the reduction in associate income following the sale of non-core
investments (Mosaic Software Holdings Limited, Digital Healthcare Solution (Pty)
Limited and Perago Financial System Enablers (Pty) Limited) in the previous
period and the payment in the current period of the Secondary Tax on Companies
of R10.2m on the group"s maiden dividend. Taking these factors into account,
HEPS growth on a comparable basis is 14%.
The forecast financial information on which this trading statement is based has
not been reviewed or reported on by the Company"s auditors.
Midrand
10 February 2006
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 10/02/2006 02:42:50 PM Produced by the JSE SENS Department
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