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CNL
CNL
CNL - Control Instruments Group Limited - Trading statement
Control Instruments Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1964/003987/06)
Share code: CNL
ISIN code: ZAE000001665
("Control Instruments" or "the Group" or "the Company")
TRADING STATEMENT
In terms of the JSE Limited Listings Requirements, companies are required
to publish a trading statement as soon as they are reasonably certain that
their financial results for the current reporting period will differ from the
previous corresponding period by more than 20%.
Control Instruments is now focused on two areas in the automotive
market - the international automotive OEM market(through subsidiary, Pi
Shurlok)and the sub-Saharan automotive aftermarket(through subsidiary CI
Automotive)
These businesses (the continuing operations) are expected to show a growth in
EBITDA (earnings before interest, tax, depreciation, amortisation, negative
goodwill and profit/loss on sale of assets) for the six months ended 30 June
2008 of between 75% and 85% and they are expected to show headline earnings
per share between one and three cents, which is an increase compared with a
headline loss per share of 14.9 cents in the same period in 2007.
Including the discontinued operations, the Group`s results for the six months
ended 30 June 2008 are expected to show a decrease from earnings per share of
28.2 cents to a loss per share between 20 cents and 25 cents per share. The
major portion of this loss is in the discontinued operations as a result of
the loss on the sale of Tripmaster Corporation ("Tripmaster") to TeliMatrix
Limited ("TeliMatrix"). Tripmaster would have been sold as part of the fleet
management businesses that were sold to TeliMatrix last year, but for a number
of reasons it was excluded from the transaction.
The Group`s headline loss per share is expected to decrease between 30% and
40% compared with the same period in 2007.
Shareholders are advised that this information has not been reviewed or
reported on by the Company`s external auditors. Control Instruments` results
for the six months ended 30 June 2008 are expected to be published on SENS on
or about 22 August 2008.
Cape Town
13 August 2008
Sponsor:
Investec Bank Limited
Date: 13/08/2008 16:03:01 Produced by the JSE SENS Department.
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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,
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information disseminated through SENS.
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