KAP International Holdings Limited provided earnings guidance for the six months ended December 31, 2012. The company acquired the Steinhoff Industrial Assets from Steinhoff Africa Holdings (Proprietary) Limited and issued 1,912.8 million shares to Steinhoff with effect from April 2, 2012. For accounting purposes the transaction is regarded as a reverse acquisition.

The results of KAP for the six months ended December 31, 2012 will therefore contain the results of the newly constituted KAP for the period, while the results for the previous corresponding period will reflect only the results of the Steinhoff Industrial Assets and not those of the traditional KAP assets. KAP's fully diluted earnings per share for the six months ended December 31, 2012 will be between 25% and 35% higher than the previous six months period of 11.9 cents per share; KAP's fully diluted headline earnings per share for the six months ended December 31, 2012 will be between 15% and 25% higher than the previous six months period of 11.8 cents per share.