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31 May 2013 07:00
AECI LTD - Trading StatementAECI LTD - Trading Statement
PR Newswire
London, May 30
In compliance with the JSE Limited ("JSE") Listings Requirements shareholdersare advised that, for the half-year ending 30 June 2013 ("the period"), AECI'searnings per share ("EPS") and headline earnings per share ("HEPS") areexpected to be at least 150% higher than the prior corresponding period duemainly 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.
A range as required by the JSE Listings Requirements cannot be determined withreasonable certainty at this stage. Shareholders are advised that a furthertrading statement will be released on the Stock Exchange News Service ("SENS"),providing earnings forecast ranges for EPS and HEPS, when the Company is in aposition to do so.
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
31 May 2013
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
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