VLE
VLE
VLE - VLE - Value Group - Trading update
Value Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1997/002203/06
Share code: VLE
ISIN code: ZAE000016507
("Value" or "the company")
Trading update
In terms of the listings requirements of the JSE Limited, a company is required
to publish a trading update as soon as it becomes reasonably certain that the
financial results for its next reporting period will show a 20% or more
difference from the previous corresponding period.
In the company`s SENS announcement on 30 May 2007, it was stated that its
interim results for the six month period ended 31 August 2007 would be less than
that achieved in the previous comparative period. The competitive nature of the
logistics environment and customer cost adversity has placed the industry and
the Group`s rates under pressure. In addition, costs incurred in providing
logistics services have increased beyond the rate of inflation. Consequently,
profitability has been negatively impacted. Accordingly, shareholders are
advised that headline and basic earnings per share for the interim period ended
31 August 2007 will be 40% to 60% less than that achieved in the previous
corresponding period. Management`s corrective action of re-pricing service
offerings where required and focusing on operational efficiencies to reduce
costs is beginning to yield positive results.
The financial results on which this trading update has been based have not been
reviewed nor reported on by Value`s auditors. The results for the 6 months
ended 31 August 2007, will be published on or about 23 October 2007.
Johannesburg
18 October 2007
Sponsor: Investec Limited
Date: 18/10/2007 07:18:01 Produced by the JSE SENS Department.
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