JDG
JDG
JDG - JD Group Limited - Trading statement
JD Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1981/009108/06)
ISIN: ZAE000030771
JSE code: JDG
("Group")
TRADING STATEMENT
In compliance with paragraph 3.4 of the Listings Requirements of the JSE
Limited, the board of directors wish to advise shareholders as follows.
The interim results for the six months ended 29 February 2008 will incorporate a
change in the basis of accounting for insurance income and initiation fees from
one which recognises income at the inception of the contract entered into with a
customer ("old basis of accounting") to one which recognises insurance income
and initiation fees over the period of the contract ("new basis of accounting").
Full details of this change and the related adjustments required at the various
reporting dates will be disclosed in the reviewed interim financial results.
Operating profits before debtors costs for the six months ended 29 February 2008
are expected to be between 19% and 24% lower on the new and old basis of
accounting than those reported for the previous corresponding period.
On the new basis of accounting, headline earnings and earnings per share (i.e.
operating profits less debtors costs, net finance costs and taxation)
attributable to shareholders for the six months ended 29 February 2008 are
expected to be between 44% and 49% lower than those reported for the previous
corresponding period. On the old basis of accounting, headline earnings and
earnings per share attributable to shareholders would have been between 37% and
42% lower than those reported for the previous corresponding period.
Shareholders are advised that the financial information contained in this
Trading Statement has neither been reviewed nor reported on by the company`s
external auditors.
The Group`s reviewed interim financial results for the six months ended 29
February 2008 will be released on SENS on or about Monday, 26 May 2008.
14 May 2008
Johannesburg
SPONSOR
PSG Capital (Proprietary) Limited
Date: 14/05/2008 16:52:15 Produced by the JSE SENS Department.
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