| Wed 6 Aug 2008, 17:03 | | TRE - Trencor trading statement |
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MOB TRE
MOB TRE
TRE/MOB - Trencor/ Mobile Industries Limited - Trading Statement
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
TRADING STATEMENT
Holders of securities in Trencor and Mobile are advised that Trencor expects to
report undiluted headline earnings of between 180 and 185 cents per share for
the six months ended 30 June 2008 compared to 99,9 cents for the same period in
2007. The principal reasons for this improvement are (a) an increased
contribution from Textainer, in which the group has a 62,6% interest (2007:
72,3%); Textainer has announced earnings of US$48 million for the six months
compared with US$32 million for the same period in 2007; and (b) unrealised
gains, before tax, arising on the translation of the net long-term receivables
which increased to R194 million for the period from R20 million in the
corresponding period in 2007. Note that the spot exchange rate declined by 107
cents from US$1 = R6,78 at 31 December 2007 to R7,85 at 30 June 2008. In the
corresponding period last year, the spot exchange rate declined by 9 cents.
Adjusted undiluted headline earnings (which excludes net unrealised gains on
translation of net long-term receivables but includes net gains and losses
arising from the sale of containers from Textainer`s leasing fleet) for the
current period are expected to increase from 105,0 cents per share in 2007 to
between 125 and 130 cents per share. Undiluted basic earnings for the entity as
a whole are expected to be between 175 and 185 cents per share for the six
months ended 30 June 2008 (2007: 110,9 cents per share).
Based on Trencor`s estimated headline earnings above, Mobile is expected to
report undiluted headline earnings per share of between 14 and 15 cents per
share for the half year (2007: 8,1 cents). Undiluted basic earnings for the
entity as a whole are expected to be between 14 and 15 cents per share for the
six months ended 30 June 2008 (2007: 8,9 cents per share).
The financial information on which this trading statement is based has not been
reviewed or reported on by Trencor`s or Mobile`s independent auditors. The
unaudited interim results in respect of the six months ended 30 June 2008 are
expected to be published during the week commencing 11 August 2008.
ON BEHALF OF THE BOARDS
NI JOWELL CHAIRMAN TRENCOR LIMITED
C JOWELL CHAIRMAN MOBILE INDUSTRIES LIMITED
6 August 2008
www.trencor.net
www.mobile-industries.net
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 06/08/2008 17:03:01 Produced by the JSE SENS Department.
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