AECI Limited - Trading Statement
PR Newswire
London, February 14
AECI LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1924/002590/06)
Tax reference number: 9000008608
Share code: AFE
ISIN: ZAE000000220
Share code: AFEP
ISIN: ZAE000000238
Bond company code: AECI
LEI: 3789008641F1D3D90E85
("AECI" or "the Company" or "the Group")
TRADING STATEMENT
In compliance with the JSE Limited Listings Requirements, shareholders and bondholders are advised that for the financial year ended 31 December 2019 ("the period") AECI's earnings per share ("EPS") is expected to be between 1 173 cents and 1 266 cents, that is between 25% and 35% higher than the 938 cents reported for the financial year ended 31 December 2018 ("the prior corresponding period").
The expected increase in EPS is due mainly to the following:
- receipt of the proceeds from the sale of the Group's 50% shareholding in Crest Chemicals Proprietary Limited to its joint venture partner, Brenntag (Holding) BV (158c impact); and
- receipt of the proceeds from the sale of a property in the second half of the year (50c impact).
Neither of the above transactions are included in the calculation for headline earnings per share ("HEPS").
HEPS is expected to be between 1 118 cents and 1 170 cents, that is between 7% and 12% higher than the 1 045 cents reported for the prior corresponding period.
AECI is currently finalising its results for the period and it is expected that these will be released on the Stock Exchange News Service on or about Tuesday, 25 February 2020.
The financial information on which this trading statement is based has not been reviewed or audited by the Company's external auditor. The information provided does not contain, and should not be construed as containing, any forward-looking statements or projections of any nature for the financial year ended 31 December 2019.
Woodmead, Sandton
14 February 2020
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
