CVN
CVN
CVN - Convergenet Holdings Limited - Trading Update
CONVERGENET HOLDINGS LIMITED
(Formerly Vestor Investments Limited)
Incorporated in the Republic of South Africa)
(Registration number 1998/015580/06)
Share code: CVN & ISIN: ZAE000102067
("ConvergeNet" or "the company")
TRADING UPDATE
Shareholders are advised that, for the interim results for the six months ended
29 February 2008, the company expects to report earnings per share and headline
earnings per share of between 2.65 cents and 3.05 cents compared to a loss of
0.05 cents per share as per the prior year interim results.
It should be noted that as at 31 August 2007, the last financial year end of
ConvergeNet, there had been a number of acquisitions and various changes in
accounting estimates, none of which were reflected in the 28 February 2007
interim results which form comparatives in the above paragraph. Shareholders
are also reminded of the profit forecast as published in the circular to
shareholders dated 03 August 2007, which estimated fully diluted earnings and
headline earnings of 4.23 cents per share for the year ending 31 August 2008.
On the assumption that forecast earnings accrued on a pro rata basis, it is
expected that earnings per share and headline earnings per share will be between
25% to 45% better than 50% of the years profit forecast.
The financial information, on which this trading statement is based, has not
been reviewed or reported on by the company`s auditors.
Johannesburg
19 January 2007
Sponsor
Arcay Moela Sponsors
(Proprietary) Limited
Date: 19/03/2008 17:09:23 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
