BAT - Brait S.A. Societe Anonyme - Trading Statement
BAT
BRAIT
BAT - Brait S.A. Societe Anonyme - Trading Statement
Brait S.A.Societe Anonyme
("Brait" or "the Company")
(Incorporated in Luxembourg)
Registration number: RC Luxembourg B-13861
Registered office: 180 rue des Aubepines, L-1145, Luxembourg
Share code: BAT
ISIN code: LU0011857645
TRADING STATEMENT
Brait`s earnings are closely correlated with equity prices, which have generally
decreased since January 2008. Brait also holds a concentrated exposure to Net 1
UEPS, which has experienced short-term price weakness at 31 March 2008.
As a result of the above, the directors consider it prudent to give guidance to
shareholders as follows:
For the year ended 31 March 2008, we estimate that, in relation to the year
ended 31 March 2007:
- Earnings per share ("EPS") is expected to increase by 8% to 12%;
- Diluted EPS is expected to increase by 14% to 18%;
- Headline earnings per share ("HEPS") is expected to decline by 18% to 22%;
- Diluted HEPS is expected to decline by 16% to 20%
The reason for the increase in the EPS is the result of the gain on the
realisation of Brait`s equity holdings in Bayport Management Limited and Bayport
Holdings (South Africa) (Proprietary) Limited (Bayport). Historically Bayport
was consolidated rather than fair valued, and accordingly the gain on
realisation has been excluded in the calculation of HEPS.
The financial information on which this trading statement has been based has not
been reviewed or reported on by the Company`s auditors.
The financial results of the company for the year ended 31 March 2008 are
currently being prepared and are expected to be published on or about 30 May
2008.
Luxembourg
4 April 2008
Sponsor: Deloitte & Touche Sponsor Services (Pty) Limited.
Date: 04/04/2008 13:00:01 Produced by the JSE SENS Department.
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