In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on next will differ by more than 20% from those of the previous corresponding period.
Shareholders are hereby advised that a reasonable degree of certainty exists that the Company expects to report a loss and headline loss per share of between 12.05 cents and 12.19 cents for the year ended 31 December 2016, compared to an earnings per share of 6.92 cents and headline earnings per share of 1.4 cents for the year ended 31 December 2015.
The reason for the material decrease in earnings and headline earnings per share in the current financial period is a result of low level of recoveries during the current reporting period and an increase in expenditure, partly offset by increased interest received.
The net asset value decreased with 4.76% from R2.34 at 31 December 2015 to R2.23 at 31 December 2016.
The information contained in this trading statement has not been reviewed or reported on by the Company’s external auditors. R&E expects to release its financial results for the year ended 31 December 2016 on or about 27 March 2017.
10 March 2017
Sponsor PSG Capital