MTA
MTA
MTA - Metair Investments Limited - Trading Update
METAIR INVESTMENTS LIMITED
Reg No. 1948/031013/06
Share code: MTA
ISIN code : ZAE000090692
(Incorporated in the Republic of South Africa)
("Metair" or "the group")
TRADING UPDATE
Metair shareholders are advised that that the company`s headline earnings per
share and basic earnings per share for the six months ended 30 June 2008 are
expected to be between 30% and 40% lower compared to the corresponding six
months of the previous period.
The primary reasons for the decrease in headline earnings per share and basic
earnings per share is as a result of the depreciation of the Rand against major
trading currencies and the rise in commodity prices during the period. Current
pricing arrangements with customers only allow for the recovery of foreign
exchange losses and commodity price increases retrospectively.
Metair group companies are currently engaged in negotiations with customers to
amend the exchange rate and commodity pricing policies to allow for a more
responsive adjustment to selling prices.
Metair anticipates that it will, subject to OEM production volumes remaining at
planned levels and the Rand not weakening any further, recoup the first half of
the year`s exchange rate under-recovery in the second half of the financial
year.
Metair remains focused on balancing the group`s risk profile and pursuing new
growth opportunities.
It is anticipated that the results for the six months ended 30 June 2008 will be
published on or about 30 August 2008.
The above information has not been reviewed or reported on by the company`s
auditors.
BY ORDER OF THE BOARD
Johannesburg
08 July 2008
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 08/07/2008 17:15:01 Produced by the JSE SENS Department.
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