BJM
BJM
BJM - Barnard Jacobs Mellet Holdings Limited - Trading Statement
BARNARD JACOBS MELLET HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1995/004798/06)
JSE code : BJM
ISIN : ZAE000014262
("BJM" or "the Group")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, companies are required
to publish a trading statement as soon as they become aware that the financial
results for the period to be reported upon next will differ by at least 20% from
the financial results for the previous corresponding period.
Accordingly, BJM shareholders are advised that management has reasonable
certainty that the Group`s earnings will be negatively impacted at least to this
extent. This is primarily attributed to the slowdown in agency trading activity
following the deterioration in both local and global market conditions in the
months following the previous financial year end.
Management has taken measured action with regard to, inter alia, cost
containment and capital management and is able to report that all of the Group`s
major divisions are operating profitably. Furthermore, management is resolute in
ensuring that the Group retains its market position across its key disciplines.
Management expects BJM`s earnings for the six months ending 30 September 2008 to
be as follows:
headline earnings between 10 to 12 cents per share (2007 32.9 cps);
normalised earnings between 12 to 14 cents per share
(2007 34.4 cps); and
basic earnings between 10 to 12 cents per share (2007 32.9 cps).
The results for the six months ending 30 September 2008 will be announced on or
about 14 November 2008.
This trading update has not been reviewed or reported on by BJM`s auditors.
Johannesburg
22 August 2008
Sponsors:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 22/08/2008 17:00:01 Produced by the JSE SENS Department.
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