IQG
IQG
IQG - IQuad Group Limited - Trading statement
IQuad Group Limited
Registration Number 2004/025177/06
Share Code: IQG ISIN: ZAE000101622
("IQuad" or "the Company" or "the Group")
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 the
financial results for the current reporting period will be more than 20%
different from those of the previous corresponding period.
Accordingly, shareholders are advised that the headline earnings per share
("HEPS") for the six months ended 31 August 2008 is expected to be between 20%
and 25% lower than those for the prior period. The earnings per share ("EPS") is
expected to be between 25% and 30% lower than those for the prior period.
Earnings for the six months ended 31 August 2008 were, inter alia, negatively
affected by an approximate R 1 million loss from the group`s 35% interest in
Cullinan Industrial Porcelin (Pty) Ltd ("CIP"). Further losses amounting to
approximately R1.3 million were suffered through the group`s investment in
Australia ("FMS"). The group`s investments in CIP and FMS have accordingly been
impaired and will be accounted for as discontinued operations.
Notwithstanding the above, the Group`s core businesses have performed
satisfactorily to the extent that normalized HEPS and EPS for the six months
ended 31 August 2008 are expected to be between 5% and 10% higher than the prior
period.
The information in this trading statement has been prepared in accordance with
International Financial Reporting Standards and has not been reviewed or
reported on by IQuad`s auditors.
The Group`s results for the six months ended 31 August 2008 are expected to be
released on SENS on or about 26 September 2008.
16 September 2008
Designated Adviser
PSG Capital (Pty) Limited
Date: 16/09/2008 08:54:01 Produced by the JSE SENS Department.
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