Trading statement
 
 
PSG GROUP LIMITED
 
Incorporated in the Republic of South Africa
 
Registration number 1970/008484/06
 
JSE share code: PSG ISIN: ZAE000013017
 
("PSG")
 
 
PSG Financial Services Limited
 
Incorporated in the Republic of South Africa
 
Registration number 1919/000478/06
 
JSE share code: PGFP ISIN code: ZAE000096079
 
 
RECURRING HEADLINE EARNINGS
 
PSG, an investment holding company, continues to use the sum-of-
 
the-parts (“SOTP”) value and recurring headline earnings methods
 
to provide management and investors with a more realistic and
 
transparent way of evaluating PSG’s performance. PSG’s SOTP value
 
is calculated using the quoted market prices for all listed and
 
over-the-counter (“OTC”) traded unlisted investments, and market
 
related valuations for unquoted, unlisted investments. PSG’s
 
recurring headline earnings is the sum of its effective interest
 
in that of each of its underlying investments. The result is that
 
investments in which PSG holds less than 20% and are generally not
 
equity accountable in terms of accounting standards, are included
 
in the calculation of consolidated recurring headline earnings.
 
Marked-to-market fluctuations and one-off items are excluded.
 
 
TRADING STATEMENT
 
In terms of the Listings Requirements of the JSE Limited, a listed
 
company is required to publish a trading statement as soon as it
 
becomes aware that the financial results for the next period to be
 
reported on will show a 20% or more difference from those of the
 
previous corresponding period.
 
 
PSG hereby advises that a reasonable degree of certainty exists
 
that:
 
 
1. As at 31 August 2012, its SOTP value per share will be between
 
R67.00 and R69.00 per share, or between 19,8% and 23,4% higher
 
than that as at 29 February 2012; and
 
2. For the six month period ended 31 August 2012:
 
 
- Recurring headline earnings per share will be between 162 cents
 
and 163 cents, or between 19,6% and 20,3% higher than that for
 
the six months ended 31 August 2011;
 
- Headline earnings per share will be between 209 cents and 211
 
cents, or between 102,3% and 104,3% higher than that for the
 
six months ended 31 August 2011; and
 
- Attributable earnings per share will be between 173 cents and
 
175 cents, or between 97,9% and 100,2% higher than that for the
 
six months ended 31 August 2011.
 
This financial information has not been reviewed or reported on by
 
the auditor of PSG. The unaudited results for the six months ended
 
31 August 2012 will be published on or about 8 October 2012.
 
 
Stellenbosch
 
5 October 2012
 
 
PSG Capital
 
Sponsor to PSG
 
 
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