DLV
DLV
DLV - Dorbyl - Trading Update
DORBYL LIMITED
(Incorporated in the Republic of South Africa)
(Registration no. 1911/001510/06)
Ordinary share code: DLV
ISIN: ZAE000002184
("Dorbyl")
Trading Update
Dorbyl hereby advises that for the year ended 31 March 2007, it is expected
that headline earnings per share will be between a loss of 2,5 cents per
share and a profit of 17,5 cents per share (compared to the headline loss
per share of 176,1 cents for the previous comparative year) and in respect
of basic earnings between a profit of 30 and 50 cents per share (compared
to basic earnings per share of 1741,6 cents for the previous comparative
year).
Basic earnings for the previous comparative period were largely enhanced by
the non-recurring profit on the disposal of the Alpine business in the USA.
Nonetheless it should be noted that during the current period, the ongoing
operational divisions of Dorbyl achieved lower profitability, while at
Group level the restructuring and retrenchment costs in respect of the
downsizing of the corporate head office were accounted for.
As previously reported, the group`s exposure in respect of the surplus
apportionment exercise in terms of the Pension Funds Amendment Act
promulgated in December 2001, has not been finalised. In regard to the
Pension Fund, the valuation was rejected by the Financial Services Board
and its decision has been taken on appeal. The amount in dispute is an
estimated R40 million inclusive of interest, which has not been provided
for.
The information in this trading statement has not been reviewed or reported
on by Dorbyl`s auditors.
Johannesburg
18 May 2007
Sponsor: PSG Capital Limited
Date: 18/05/2007 15:13:22 Produced by the JSE SENS Department.
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