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Trading statement
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)
TRADING STATEMENT
Shareholders are advised that earnings per share (“EPS”) and headline earnings per share (“HEPS”) and Adjusted HEPS for the year ended 31 December 2014 are expected to be within the ranges set out below:
| blank | 2014 | 2013 | |
| blank | Expected | Change% | Actual |
| BASIC EPS | 540 – 545 | -31 to -30 | 785,7 |
| HEPS | 578 – 583 | -27 to -26 | 792,6 |
| Deduct: | blank | blank | blank |
| • Once-off gain on modification of debt terms | – | blank | 97,2 |
| • Net unrealised foreign exchange translation gains | 25 – 30 | -61 to -54 | 64,7 |
| ADJUSTED HEPS (including the value of the TAC option held by Halco) | 550 – 555 | -13 to -12 | 630,7 |
| • Deduct once-off gain on value of the TAC option | – | blank | 82,9 |
| ADJUSTED HEPS (excluding the value of the TAC option) | 550 – 555 | 0,4 to 1,3 | 547,8 |
| Year-end rate of exchange: SA rand to US dollar | 11,54 | blank | 10,46 |
| Average rate of exchange for the year | 10,78 | blank | 9,67 |
The results of Textainer Group Holdings Limited (NYSE: TGH), in which Trencor has a 48% beneficiary interest, can be accessed on its website www.textainer.com.
The financial information on which this trading statement is based has not been reviewed and reported on by Trencor’s independent auditors. The reviewed results in respect of the year ended 31 December 2014 are expected to be published on SENS on or about 20 February 2015.
On behalf of the Board
NI Jowell Chairman
17 February 2015
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)