CRG
CRG
CRG - Cargo Carriers Limited - Trading Statement
CARGO CARRIERS LIMITED
(Registration Number 1959/003254/06)
Share code: CRG
ISIN: ZAE000001764
("CRG" or "the group")
TRADING STATEMENT
Shareholders are advised that CRG`s earnings per share for the year ended 29
February 2008 are expected to increase by more than 35% due mainly to an
increase in the value of the property portfolio. Due to the uncertainties in
Zimbabwe a decision was made to impair the assets of that subsidiary and
earnings per share were decreased by 32.8 cents. However, headline earnings per
share will be 15% to 20% below those of the prior year. This decrease in
headline earnings per share has been brought about through abnormally high
operating costs in the agricultural sector of cane extraction from wet fields
due to the poor climatic conditions experienced, and an increased interest
charge resulting from the capital expenditure for fleet renewal, and higher
interest rates.
The final announcement of results for the year ended 29 February 2008 is
expected to be published on or about 16 May 2008.
Johannesburg
13 May 2008
Sponsors
Arcay Moela Sponsors (Pty) Ltd
Date: 13/05/2008 15:20:01 Produced by the JSE SENS Department.
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