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Shareholders are referred to the regular communication on the sale of the Nashua Mobile subscriber base and the positive impact that this sale had on the reported 2014 financial results. This communication was contained in the 2014 annual financial statements, the results announcements for the 12 months ended 30 September 2014 and 6 month period ended 31 March 2015, as well as the announcements released on the Stock Exchange News Service of the JSE Limited on 14 and 15 April 2014, 26 May 2014, 30 September 2014 and 27 October 2014.
In line with these previously communicated circumstances highlighted above; shareholders are advised that Reunert's forecast profit after taxation and basic earnings per share for the year ending 30 September 2015 are both expected to decrease by more than 20% when compared to the 2014 financial year: - profit after tax 2015: below R1 576 million (2014: R1 970 million); and - earnings per share 2015: below 961,0 cents (2014: 1 201,6 cents).
This is due to the inclusion of the following items of a non-recurring nature in the 2014 financial results: - the profit after taxation of R1 397 million, which arose on the disposal of the Nashua Mobile customer bases to the network operators; and - the R187 million profit after taxation earned from Nashua Mobile's trading operations during 2014.
Reunert is not currently in a position to provide more specific guidance on the other earnings per share measures, given that there is still a substantial period of trading before Reunert's year-end on 30 September 2015.
Accordingly, a further trading statement will be issued once Reunert and its directors have obtained a reasonable degree of certainty with regard to the expected financial results for the year ending 30 September 2015.
The forecast information on which this trading statement is based has not been reviewed and reported on by Reunert's external auditors.
Sandton 10 July 2015
Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 10/07/2015 04:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
