AMA - Amalgamated Appliance Holdings Limited - Trading Update
AMA
AMA
AMA - Amalgamated Appliance Holdings Limited - Trading Update
Amalgamated Appliance Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/004130/06)
Share code: AMA & ISIN: ZAE000012647
("AMAP" or "the Group")
TRADING UPDATE
Amap`s trading update of 6 November 2007 highlighted several factors which had
and were likely to have an adverse impact on the Group`s results. These factors
included the adverse trading conditions, particularly in the brown goods
category, margin pressure due to fierce competition for market share as well as
a slow down in retailer durable goods sales due to interest rate hikes and the
introduction of the National Credit Act.
Following the disappointing festive season trading and with little evidence of
an improvement in the short term, a re-assessment of the Group`s stock was
undertaken and highlighted the need for further provisioning.
As a result of the abovementioned factors combined with the costs incurred in
respect of the ongoing restructuring of the Group`s activities, the Board
expects earnings per share and headline earnings per share for the six months
ended 31 December 2007 to be between 115% and 120% lower than for the
corresponding period last year.
The financial information on which this trading update has been based has not
been reviewed or reported on by Amap`s auditors.
The Group`s interim results for the six months ended 31 December 2007 are
expected to be published on or about 10 March 2008.
Johannesburg
22 February 2008
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 22/02/2008 14:26:26 Produced by the JSE SENS Department.
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