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Trading statement for the six months ended 30 September 2023
Alexander Forbes Group Holdings Limited
(Incorporated in the Republic of South Africa)
Registration Number: 2006/025226/06
JSE Share Code: AFH and ISIN: ZAE000191516
("Alexforbes" or "the company" or "group")
TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2023
Alexforbes is currently finalising its half year financial results for the six months ended 30 September 2023 (the current
period) which are expected to be released on the Stock Exchange News Service and on the company's website at
www.alexforbes.com on or about 4 December 2023.
The group is expected to deliver pleasing growth for the current period from continuing operations with profit from operations
before non-trading and capital items expected to be between R372 million and R407 million, 5% to 15% higher than the
R354 million reported for the six months ended 30 September 2022 (the prior period).
Basic earnings from continuing operations also benefited from:
- other income earned on interim support services provided to businesses disposed
- a reduction in non-trading and capital items owing to lower amortisation of intangible assets as well as an improved
result from our professional indemnity insurance cell
- an increase in investment income driven by higher interest rates.
The increase in earnings from total operations is also attributed to the base effects from the prior year, specifically by the
performance of discontinued operations. In the prior period the financial performance of the discontinued operations included
losses incurred by Alexander Forbes Life due to reserving requirements resulting from ongoing clean-up and finalisation of
claims as part of the transaction implementation.
Based on the information currently available to the company, shareholders are advised that the financial results for the current
period are expected to be:
As reported Expected Estimated range
For the period ended Sept 2022 (cents) Sept 2023 (cents) change*
Total operations
Headline earnings per share 14.1 26.1 to 28.9 85% to 105%
Basic earnings per share 14.1 26.1 to 28.9 85% to 105%
Continuing operations
Headline earnings per share 16.1 25.0 to 28.2 55% to 75%
Basic earnings per share 16.1 25.0 to 28.2 55% to 75%
Discontinued operations
Headline (loss)/earnings per share (2.0) 0.5 to 0.9 >100%
Basic earnings per share (2.0) 0.5 to 0.9 >100%
* Percentages calculated based on rounded figures
This trading statement is issued in accordance with paragraph 3.4(b) of the JSE Listings Requirements. The financial
information on which it is based has not been reviewed and reported on by the group's external auditors.
Carina Wessels
Executive: Governance, Legal, Compliance and Sustainability (Company Secretary)
13 November 2023
Sandton
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 13-11-2023 12:15:00
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