PHM - Phumelela - Trading statement for the year e
PHM
PHM
PHM - Phumelela - Trading statement for the year ended 31 July 2007
Phumelela Gaming & Leisure Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/016610/06)
Share code: PHM ISIN: ZAE000039269
PHUMELELA - TRADING STATEMENT FOR THE YEAR ENDED 31 JULY 2007
Phumelela announces that it expects basic earnings per share for the twelve
months ended 31 July 2007 to be between 70% and 80%, and headline earnings per
share to be between 75% and 85% higher than the prior comparative period, using
accounting policies consistent with those used in the comparative period. The
increase has been favourably impacted by the gross proceeds of R 40 million
received on termination of the Newmarket use agreement. The headline earnings
per share excluding the compensation for early termination of the Newmarket
lease is expected to be between 25% and 30% higher than the prior comparative
period.
The conditions precedent to the disposal of the Bloemfontein Racecourse for R 32
million, were met during August 2007 and as a result the sale will be accounted
for in the 2008 financial year.
This trading statement has not been reviewed or reported on by Phumelela`s
external auditors. The release of the announcement of the results for the twelve
month period ended 31 July 2007 is expected to be on 1 October 2007.
Johannesburg
18 September 2007
Sponsor:Investec Bank Limited
Date: 18/09/2007 08:27:09 Produced by the JSE SENS Department.
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