PGR
PGR
PGR - Peregrine Holdings Limited - Trading statement
Peregrine Holdings Limited
(Registration number 1994/006026/06)
("Peregrine" or "the company")
JSE code: PGR ISIN code: ZAE000078127
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, shareholders are
advised that, in respect of the six month period ending 30 September 2008, basic
earnings per share and headline earnings per share are expected to be between
70% and 80% lower than for the six month period ended 30 September 2007
(published earnings per share and headline earnings per share for such six month
period were 129,7 cents and 127,0 cents respectively).
The period ended 30 September 2007 represented the most profitable 6 months in
Peregrine`s history. Off this high base, two major factors have contributed to
the decline in earnings:
1. Performance fee earnings for the period are lower as a result of adverse
market conditions. Results for the group`s core local operating businesses
are likely to be approximately 50% lower than those of the comparable
period.
2. The group earned a negative return on its proprietary investments compared
to a substantial positive return for the same period last year. Whilst this
had no direct impact on cashflow, it served to significantly diminish the
group`s earnings relative to those of the comparable period.
Nonetheless, as anticipated, under very difficult market conditions, the group
has remained both profitable and meaningfully cashflow positive.
The information on which the above trading statement has been provided has not
been reviewed or reported on by the company`s auditors.
The unaudited results for the six month period ended 30 September 2008 are
expected to be released during the first week of November 2008.
20 October 2008
Sponsor
Java Capital (Proprietary) Limited
Date: 20/10/2008 12:00:10 Produced by the JSE SENS Department.
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