Expect Higher Earnings, Masters Drilling Group tells Shareholders

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Master Drilling Group Limited, South Africa has informed shareholders to expect higher earnings following a remarkably improved performance over the previous financial year.

The announcement was made in compliance to terms of the Listings Requirements of the JSE, requiring a listed company to publish a trading statement as soon as it becomes reasonably aware that the financial results for the next period to be reported on will differ by at least 20 per cent from those of the corresponding prior period.

Masters Drilling stated that the Company’s earnings per share (“EPS”) for the year ended 31 December 2016 (“current period”) in ZAR terms are expected to be between 201.40 and 218.60 cents per share compared to the EPS of 172.00 cents per share for the year ended 31 December 2015 (“comparative period”), which is between 17.1 per cent and 27.1 per cent higher than the EPS of the comparative period as reported in ZAR.

“Headline earnings per share (“HEPS”) for the current period are expected to be between 201.10 and 218.70 cents per share compared to the HEPS of 175.90 cents per share for the comparative period, which is between 14.3 per cent and 24.3 per cent higher than the HEPS for the
comparative period as reported in ZAR.

“Shareholders are advised that the Company’s EPS for the current period in USD terms are expected to be between 13.60 and 15.00 cents per share compared to the EPS of 13.50 cents per share for the comparative period, which is between 0.9 per cent and 10.9 per cent higher than the EPS of the comparative period as reported in USD. HEPS in USD for the current period are expected to be between 13.60 and 15.00 cents per share compared to the HEPS of 13.80 cents per share for the comparative period, which is between 1.5 per cent lower and 8.5 per cent higher than the HEPS for the comparative period,” the company stated.

The company however noted that the financial information on which this trading statement is based has not been reviewed or reported upon by the Company’s auditors.

Master Drilling’s year-end results are expected to be released on SENS on or about Wednesday, 22 March 2017.

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