TFX
TFX
TFX - Topfix Holdings Limited - Trading Statement
TOPFIX HOLDINGS LIMITED
(Registration number 2006/011359/06)
JSE code: TFX & ISIN: ZAE000088423
("Topfix" or "Group" or "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 the
financial results for the current reporting period will be more than 20%
different from those previously provided in a profit forecast in relation to
such period.
Accordingly, shareholders are advised that the headline earnings per share
("HEPS") and earnings per share ("EPS") for the year ended 30 June 2008 is
expected to be between 29% and 43% lower than those as previously published in
the profit forecast for the year ended 30 June 2008 ("profit forecast").
Earnings for the year ended 30 June 2008 are negatively affected by disputed
debtors` balances. As at the date of this announcement the Group has been
attempting to negotiate finalisation of the disputed balances, but further
investigation and analysis is required before resolution can be obtained. As
such the directors of Topfix have adopted a prudent approach, and in compliance
with International Financial Reporting Standards ("IFRS"), have raised a
provision against the amount in dispute, until such time as further
clarification on the matter can be obtained.
Notwithstanding the above, the expected HEPS and EPS for the year ended 30 June
2008 will be higher than the result achieved for the prior year. In addition
normalized HEPS and EPS are expected to be approximately 408% higher than the
result achieved for the year ended 30 June 2007.
The information in this trading statement has been prepared in accordance with
IFRS and has not been reviewed or reported on by Topfix`s auditors.
The Group`s results for the year ended 30 June 2008 are expected to be released
on SENS on or about 15 October 2008.
Johannesburg
10 October 2008
Designated Adviser:
PSG Capital (Pty) Limited
Date: 10/10/2008 16:36:01 Produced by the JSE SENS Department.
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