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Further Trading Statement

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)

Further Trading Statement     

Shareholders are referred to the Trading Statement published on the Stock Exchange News Service on 3 October 2016 wherein it was advised that Trencor’s (loss)/earnings per share, headline (loss)/earnings per share and adjusted headline (loss)/earnings per share for the six months ended 30 June 2016 were expected to be within the ranges set out below:

 

2016

30 June

Expected

2015

30 June*

Actual

2015

31 December

Actual

    cps cps cps
Headline (loss)/earnings per share   (206) - (227) 278 513
Adjusted headline (loss)/earnings per share (which excludes net unrealised foreign exchange losses/gains on translation of long-term receivables)  

(196) - (217)

264

443

(Loss)/Earnings per share   (1 202) - (1 258) 278 (83)

*As a result of the restatement disclosed in note 35 to the 31 December 2015 Trencor annual financial statements, the comparative amounts for the six months ended 30 June 2015 have been restated accordingly.  Previously reported amounts: headline earnings 275,8, adjusted headline earnings 261,2 and earnings 275,3 cents per share respectively.

The Trading Statement of 3 October 2016 confirmed that the ranges disclosed did not take into account any possible impact of the Hanjin bankruptcy.  This Further Trading Statement now takes into account the impairment of the Hanjin trade receivable at 30 June 2016, but not further uncertainties relating to the Hanjin matter.

As a result, it is now advised that Trencor’s (loss)/earnings per share, headline (loss)/earnings per share and adjusted headline (loss)/earnings per share for the six months ended 30 June 2016 are expected to be within the ranges set out below:

 

2016

30 June

Expected

    cps
Headline (loss)/earnings per share   (270) - (280)
Adjusted headline (loss)/earnings per share (which excludes net unrealised foreign exchange losses/gains on translation of long-term receivables)  

 

(260) - (270)

(Loss)/Earnings per share   (1 280) - (1 300)

The financial information on which this Further Trading Statement is based has not been reviewed and reported on by Trencor’s external auditors.  

On behalf of the Board

DM Nurek   Chairman
12 October 2016

Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)

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About Trencor

TRENCOR LIMITED is an investment holding company listed on the JSE. Trencor benefits from operations that focus on owning, leasing, managing and trading marine cargo containers worldwide, and related finance activities. Trencor has a beneficiary interest in Textainer.

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