18 Jul 2013 09:02
AECI LTD - Further Trading StatementAECI LTD - Further Trading Statement
PR Newswire
London, July 18
AECI LIMITED Incorporated in the Republic of South Africa (Registration No. 1924/002590/06) Share code: AFE ISIN No. ZAE000000220 ("AECI" or "the Company") FURTHER TRADING STATEMENT In compliance with the JSE Listings Requirements and following the guidanceprovided to the market in the Stock Exchange News Service ("SENS") announcementdated 31 May 2013, shareholders are advised that, for the six months to 30 June2013 ("the period"), AECI's earnings per share ("EPS") are expected to bebetween 190% and 200% higher and headline earnings per share ("HEPS") between230% and 240% higher than the prior corresponding period. As indicated in theannouncement of 31 May 2013 the improvement is due mainly to the following: * the non-recurrence of the R138 million (123 cents per share) once-off, non-cash IFRS 2 charge associated with the AECI Community Education and Development Trust established as part of the Company's Broad-based Black Economic Empowerment transactions effected in the prior corresponding period; and * an improved year-to-date performance from AEL Mining Services Limited, a principal subsidiary, as well the non-recurrence of costs incurred by this business during the first half of 2012 as a result of ammonia and ammonium nitrate supply constraints. AECI's results for the period are expected to be released on SENS on or aboutWednesday, 24 July 2013. The forecast financial information on which this trading statement is based hasnot been reviewed and reported on by the Company's external auditors. Woodmead, Sandton 18 July 2013
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)