VLE
VLE
VLE - Value Group Limited - 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 listed company is
required to publish a trading update as soon as it becomes reasonably certain
that the financial results for the period to be reported on next will show a 20%
or more difference from those of the previous corresponding period.
During the past year, management has been focused on returning the company to
acceptable profitability levels. This entailed re-pricing and re-modeling of
certain service offerings, improving vehicle utilizations and reducing costs.
These initiatives, coupled with the increase in volumes, in the second half of
the financial year, has improved margins and the profitability of the
Group.Accordingly, shareholders are advised that estimated headline earnings per
share for the 2008 financial year will be 160% to 180% higher than that of the
previous corresponding period whereas estimated basic earnings per share for the
same 2008 period will be 230% to 250% higher than the previous corresponding
period. The large variation between headline and basic earnings is principally
due to the after tax effect of the impairment of intangible assets in the 2007
and 2008 financial years.
The financial results, on which this trading update has been based, have not
been reviewed nor reported on by Value`s auditors. Additional information will
be provided on or about 16 May 2008 when the results for the year ended 29
February 2008 are published.
Johannesburg
Sponsor: Investec Limited
8 May 2008
Date: 08/05/2008 17:01:01 Produced by the JSE SENS Department.
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