| Tue 17 Jun 2008, 12:46 | | ELE - ElementOne Limited - Trading statement |
|
ELE
ELE
ELE - ElementOne Limited - Trading statement
ElementOne Limited
(Formerly Avusa Limited, formerly Johnnic Communications Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1889/000352/06)
Share Code: ELE ISIN: ZAE000115887
("ElementOne" or "the company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, shareholders are
advised that, for the year ended 31 March 2008, the company`s attributable
earnings per share are expected to be between 550% and 570% higher than the
prior year, while the company`s headline earnings per share are expected to be
between 120% and 140% higher than the comparative twelve month period.
As advised in the company`s interim financial results announcement, ElementOne`s
investment in Caxton and CTP Publishers and Printers Limited has been accounted
for, effective 1 April 2007, as a financial asset at fair value through profit
or loss, and no longer as an associate. Accordingly, an exceptional profit of
R1,129 billion and a deferred capital gains tax charge of R122 million have been
recognised for both attributable and headline earnings purposes.
The disposal by the company of its pay television interests, as well as the
Naspers N shares received as part consideration for those interests, resulted in
a net profit on disposal (after capital gains tax and secondary tax on
companies) of R2,451 billion. This net profit has been recognised for
attributable earnings purposes, but not for headline earnings.
In light of the above, the company`s earnings are not comparable with those of
the prior year.
The financial information on which this trading statement is based has not been
reviewed or reported on by the company`s auditors.
ElementOne`s financial results for the year ended 31 March 2008 are scheduled to
be released on Thursday 19 June 2008.
Johannesburg
17 June 2008
Sponsor
Nedbank Capital
Date: 17/06/2008 12:46:02 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.
