CND
CND
CND - Conduit - Trading Statement
Conduit Capital Limited
Incorporated in the Republic of South Africa
(Registration number 1998/017351/06)
JSE Code: CND ISIN Code: ZAE000073128
("Conduit" or "the group")
TRADING STATEMENT
In terms of the Listings Requirements of JSE Limited, companies are
required to publish a trading statement as soon as they become reasonably
certain that the financial results for the period to be reported on will
differ by more than 20% from that of the previous corresponding period.
Accordingly, a review of the financial results for the 12-month interim
period ended 28 February 2007 by management has indicated that earnings per
share ("EPS") and headline earnings per share ("HEPS") are expected to be
7,05 cents and 7,04 cents respectively (Feb 2006: EPS 25,71 cents loss;
HEPS 0,17 cents).
The increase in earnings and headline earnings per share is predominantly
due to the inclusion of earnings from CICL Investment Holdings
(Proprietary) Limited ("CICL"). Given that the acquisition of CICL was
implemented during October 2006 it should be noted that only 4,5 months of
CICL earnings having been included in EPS and HEPS and the full effect of
the acquisition of CICL will only be realised in future reporting periods.
The financial information for the 12-month interim period on which this
trading statement is based has not been reviewed or reported on by the
Conduit`s auditors.
As resolved by the directors of Conduit at a Board Meeting held on 1
November 2006, Conduit has changed its year end from the last day of
February to 31 August to bring it in line with the year-end of CICL, the
group`s largest subsidiary. Accordingly, the results announcement to which
this trading statement relates will comprise interim reviewed financial
statements for the 12-month period ended 28 February 2007. Audited
financial statements will be published for the 18-month period ending 31
August 2007.
25 May 2007
Sponsor
Merchant Sponsors (Proprietary) Limited
Date: 25/05/2007 08:30:04 Produced by the JSE SENS Department.
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