Sharenet Sites 
Sharenet Sites
Trading statement for the twelve months ended 31 March 2024
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 TWELVE MONTHS ENDED 31 MARCH 2024
Alexforbes is currently finalising its financial results for the twelve months ended 31 March 2024 (the current
year) 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 10 June 2024.
In terms of paragraph 3.4(b)(i) of the JSE Limited Listings Requirements, the board is reasonably certain that the
financial results for the current year are expected to increase by more than 20% from those of the previous
corresponding year (the prior year). The financial information on which this trading statement is based has not
been reviewed and reported on by the group's external auditors.
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
Expected (%)*
For the period ended March 2023 (cents) March 2024 (cents)
Total operations
Headline earnings per share 47.7 58.7 to 63.4 23% to 33%
Basic earnings per share 57.1 51.4 to 57.1 -10% to 0%
Continuing operations
Headline earnings per share 45.5 50.1 to 54.6 10% to 20%
Basic earnings per share 44.0 44.0 to 48.4 0% to 10%
Discontinued operations
Headline earnings per share 2.2 8.4 to 8.9 282% to 300%
Basic earnings per share 13.1 8.5 to 11.1 -35% to -15%
*Percentages calculated based on rounded figures
The group has performed well, in line with expectations for the year ended 31 March 2024. The results delivered
from continuing operations reflect solid growth in operating income owing to acquisitions and new business, with
expense growth influenced by our investment in capacity, acquisitions, and the impact of the IFRS lease
adjustment in the prior year. The group also recognised an impairment of goodwill and associated intangible
assets that differentiates basic earnings from headline earnings in continuing operations for the current year.
The anticipated increase in headline earnings from total operations is attributable to the financial performance of
the discontinued operations:
- The results from discontinued operations in the current year have benefitted from the impact of the close-
out of all insurance liabilities and assets relating to the sale and transfer of the AF Life business to
Sanlam Life (Sanlam). The business has finalised, and where applicable, transferred all policyholder
claims and reinsurance arrangements to Sanlam, aligned with the original sale transaction, and released
the remaining reserves in anticipation of deregistration.
- In the prior year, the financial performance of discontinued operations included the profit on sale that the
group recognised on the AFICA disposal. The profit on sale is, however, excluded from the calculation of
headline earnings per share.
Carina Wessels
Executive: Governance, Legal, Compliance and Sustainability (Company Secretary)
21 May 2024
Sandton
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 21-05-2024 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
