Sanlam - Trading Statement - 2005 Financial Result
SLM
SLM
Sanlam - Trading Statement - 2005 Financial Results.
Registered name: Sanlam Limited
(Registration number 1959/001562/06)
JSE share code: SLM
NSX share code: SLA
ISIN number: ZAE000070660
Sanlam Trading Statement - 2005 Financial Results
Headline Earnings per share for the 2005 financial year are estimated to be
between 90% and 100% higher than in 2004. This expected full year performance is
better than the approximately 80% increase for the ten months to October 2005 as
reported in the Trading Update released on 7 December 2005, mainly due to
improved operating results and the impact of the high level of South African
equity markets in December 2005. Better life insurance risk underwriting results
and performance fees earned on investment management results contributed to an
improvement in the expected operating results. The indicated Headline Earnings
for 2005 will be net of a provision to cover the estimated after tax cost to
implement the agreement reached on enhanced life insurance policy termination
benefits with National Treasury at the end of 2005.
Headline Earnings for 2005 are for the first time based on International
Financial Reporting Standards (the 2004 results have been restated accordingly).
The 2005 interim results announcement set out the anticipated changes to
accounting policies and practices. As a result of these changes, equity market
movements during 2005 contributed significantly to the expected increase in
Headline Earnings.
Shareholders are advised that the results referred to in this trading update
have not been reviewed or reported on by Sanlam"s auditors.
The final results for 2005 are due to be released on 9 March 2006.
Bellville
16 February 2006
Sponsor
JPMorgan Equities Limited
Date: 16/02/2006 12:30:04 PM Produced by the JSE SENS Department
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