| Fri 29 Aug 2008, 14:14 | | SHF/SHFF - Steinhoff - Trading Update |
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SHF SHFF
SHF SHFF
SHF/SHFF - Steinhoff - Trading Update
STEINHOFF INTERNATIONAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration no. 1998/003951/06)
Ordinary share code: "SHF"
ISIN: ZAE000016176
("Steinhoff")
STEINHOFF INVESTMENT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration no. 1954/001893/06)
(a wholly-owned subsidiary of Steinhoff)
Preference share code: "SHFF"
ISIN: ZAE000068367
(collectively "the Group")
Trading Update
In compliance with paragraph 3.4 of the Listings Requirements of the JSE
Limited, a listed company is required to publish a trading statement as soon as
it becomes aware, with a reasonable degree of certainty, that the financial
results for the next period to be reported on will differ by at least 20% from
those of the previous corresponding period.
Accordingly, the Group hereby advises that, for the financial year ended 30 June
2008, Steinhoff expects headline earnings per share (HEPS) to be 20% to 25%
above those reported for the previous financial year ended 30 June 2007.
The group further advises that Circular 8/2007 issued by The South African
Institute of Chartered Accountants (SAICA) amended the definition of HEPS,
resulting in a restatement of the group`s HEPS to 200cps for the year ended 30
June 2007, down from 215cps as previously reported. Accordingly, the Group
advises that HEPS is expected to increase between 27% and 32% above the restated
HEPS of 200cps.
The earnings per share will be marginally better, mainly as a result of an
impairment charge (in respect of the current year) pertaining to Steinhoff`s
associate investment in Amalgamated Appliance Holding Limited and a capital
profit of 46cps which was included in the 30 June 2007 financial year relating
to the sale of Steinhoff`s South African furniture manufacturing interests.
The information in this trading statement has not been reviewed nor reported on
by the Group`s auditors.
The audited annual financial results of the Group for the year ended 30 June
2008 are expected to be released on or about 09 September 2008.
Wynberg, Sandton
29 August 2008
Sponsor - PSG Capital (Pty) Limited
Date: 29/08/2008 14:14:01 Produced by the JSE SENS Department.
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