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IRA
IRA
IRA - Infrasors - Trading Update
Infrasors Holdings Limited
(Formerly Romador 123 (Propriety) Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2007/002405/06)
Share Code: IRA ISIN: ZAE 000101507
("Infrasors" or "the Company")
TRADING UPDATE
Shareholders are advised of the following:
- Infrasors expects its revenue to increase by between 10% and 20%;
- Infrasors expects its gross profit to decline by less than 5%;
- Infrasors expects its group profit before tax and cash flow from operating
activities before dividends to decrease by less than 10%;
for the interim financial period ended 31 August 2008 compared to the previous
corresponding period.
TRADING STATEMENT
Infrasors expects a decline in earnings and headline earnings per share for the
interim financial period ended 31 August 2008 to between 30% and 40% lower
compared to the previous corresponding reporting period.
The principal reason for the decline in earnings per share (30% to 40%) compared
to group profits before tax and cashflow (5% to 10%) is as follows:
1. The tax charge for the interim period to 31 August 2008 includes a charge
for secondary tax on companies in respect of dividends of 12 cents per
share declared in June 2008.
2. The denominator used in calculating earnings per share for F2009 in fully
diluted and based on 175 966 000 shares in issue whilst the denominator
used in F2008 was the weighted average number of shares in issue of 138 649
000.
3. Lyttelton Dolomite yielded an increase in revenue of between 10% and 20%
and an increase in profit before tax of between 20% and 30%.
4. Delf Sand experienced a decrease in performance due to softening of demand
for some of its products and services and cost increases in transport, fuel
and labour.
5. Although Infrabric`s results yielded an increase of between 60% and 70% in
turnover, there was no significant increase in profits due to pressure on
margins and escalating costs in transport, labour and equipment repairs.
The financial information on which this trading statement is based has not been
reviewed or reported on by Infrasors` auditors. Infrasors` condensed reviewed
financial results for the six months ended 31 August 2008 are expected to be
published on or about 29 October 2008.
Johannesburg
27 October 2008
Designated Advisor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 27/10/2008 17:45:26 Produced by the JSE SENS Department.
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