NEWS & MEDIA > TRADING STATEMENT
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN OR AUSTRALIA
In terms of JSE Limited Listings Requirements, a company is required to publish a trading statement, once it is reasonably certain that its results will increase by 20% or more over the corresponding reporting period.
The Company advises that its basic and headline earnings per share are expected to be between 350 cents and 360 cents for the year ended 29 February 2012 (“the period”).
Core headline earnings per share is expected to be between 382 cents and 392 cents for the period. Holdsport defines core headline earnings as headline earnings adjusted for amortisation of intangibles, straight lining of leases and non-recurring professional fees, all net of taxation.
The increase in earnings over the year ended 28 February 2011 (“the previous period”) was due to pleasing growth in operating income. This was further enhanced by the following:
- foreign exchange gains of approximately R1m in the period compared to a loss on foreign exchange transactions of approximately R7m in the previous period; and
- net financing charges for the period reduced to approximately R9m from approximately R19m in the prior period.
Investors are advised that the financial information in this trading statement has neither been reviewed nor reported on by the external auditors. The Company’s final results for the period are scheduled to be announced on Friday, 18 May 2012.
Sponsor: UBS South Africa (Pty) Ltd