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JDH
JDH
JDH - John Daniel Holdings Ltd - Trading Statement
JOHN DANIEL HOLDINGS LTD
(Incorporated in the Republic of South Africa)
(Registration Number 1998/013215/06)
Share code: JDH & ISIN: ZAE000044343
("the Group" or "JDH")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited ("JSE"), 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 next will be
more than 20% different from the previous corresponding period.
Accordingly, shareholders are advised that the group results for the year ending
30 June 2007 differ compared to the previous corresponding period. Shareholders
are also advised that the prior period results have been restated.
% Movement from 30 % Movement from
June 2006 restated previously reported
results to 30 June 30 June 2006 results
2007 results to restated 30 June
2006 results
Turnover Decreased by 33% Decreased by 2%
Headline earnings per share Decreased by 179% Increased by 1183%
Earnings per share Decreased by 54% Increased by 105%
Net asset value Increased by 74% Increased by 58%
The restatement of the prior period relates mainly to a change in the accounting
policy of fair valuing investments in subsidiaries which will be carried at cost
in future and restatements surrounding deferred tax, revenue recognition and the
erroneous elimination of the group`s option liability.
The difference in headline earnings and earnings per share is mainly
attributable to the sale, in the current year, of the subsidiary company, John
Daniel Containers Ltd ("JDC") in Gauteng, which discontinued its trailer
manufacturing operations and movements in both deferred tax and minority
interest.
The company`s audited results for the year ending 30 June 2007 are expected to
be published on 15 October 2007.
By order of the Board
Stellenbosch
Date: 12 October 2007
Sponsor
ARCAY MOELA SPONSOR (PTY) LTD
(Registration number: 2006/033725/07)
Date: 12/10/2007 14:52:01 Produced by the JSE SENS Department.
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