AMA - Amalgamated Appliance Holdings Limited - Tra
AMA
AMA
AMA - Amalgamated Appliance Holdings Limited - Trading Statement
Amalgamated Appliance Holdings Limited
Incorporated in the Republic of South Africa
Registration number 1997/004130/06
Share code: AMA & ISIN: ZAE000012647
("AMAP" or "the company")
Trading Statement
On 5 March 2007, in reporting AMAP`s interim results for the six months ended
31 December 2006, shareholders were informed of "signs of a slowdown in our
core markets...with the Festive Season trade not reaching levels expected".
This was particularly evident in AMAP`s consumer electronics division, where
the company highlighted margin pressure and deflation in flat screen TV prices
as additional challenging aspects of the business.
Trading in this division has not improved and, assuming that this trading
trend continues to our financial year-end and no significant change occurs in
the Rand exchange rate from its level at the end of April, we expect earnings
and headline earnings per share to be between 35% and 45% below the comparable
prior year`s level. Of this shortfall, approximately two-thirds would be
attributable to trading and one-third to fair value adjustments on financial
instruments.
Management is implementing a concerted action plan to address the situation
and return AMAP to its historical profit growth path.
The financial information on which this trading statement is based has not
been reviewed or reported on by AMAP`s auditors.
Johannesburg
15 May 2007
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 15/05/2007 08:00:08 Produced by the JSE SENS Department.
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