Incorporated in the Republic of South Africa
(Registration No. 1924/002590/06)
Share code: AFE ISIN: ZAE000000220
(“AECI” or “the Company”)
In compliance with the JSE Limited Listings Requirements (“the Listings Requirements”), shareholders are advised that for the half-year ended 30 June 2017 (“the period”) AECI’s headline earnings per share (“HEPS”) is expected to be between 381 cents and 396 cents, that is 30% and 35% higher than the 293 cents reported for the half-year ended 30 June 2016 (“the prior corresponding period”). Earnings per share (“EPS”) is expected to between 380 cents and 394 cents, also 30% to 35% higher than the 292 cents reported for the prior corresponding period.
In the prior corresponding period HEPS and EPS were negatively affected by the settlement cost (non-cash) of AECI’s post-retirement medical aid liability. The post-tax effect of this was R98 million, or 93 cents per share.
The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s external auditors. The information provided does not contain, and should not be construed as containing, any forward-looking statements or projections of any nature for the period ended 30 June 2017.
AECI’s results for the period are expected to be released the Stock Exchange News Service on or about Wednesday, 26 July 2017.
18 July 2017
RAND MERCHANT BANK (A division of FirstRand Bank Limited)