SAT
SAT
SAT - SA Reit - Trading Statement
SA REIT Limited
(formerly Shops for Africa Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2000/018084/06)
ISIN: ZAE000104196 & JSE share code: SAT
("SA REIT" or "the 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 than that of the previous corresponding period or a profit forecast
previously provided for such period.
In light of the above, SA REIT expects to announce basic earnings per share
("actual EPS") and headline earnings per share ("actual HEPS") for the year
ended 31 August 2008 that will be 230% to 250% higher and 25% to 30% lower than
that of the forecast basic earnings and headline earnings per share for the year
ended 31 August 2008 of 2.19 cents ("the forecast information") respectively.
Actual EPS and actual HEPS were negatively impacted by repairs and maintenance
costs incurred during the refurbishment of the 22 Long Street and 33 Waterkant
Street properties which costs were not included in the forecast information.
Notwithstanding this, actual EPS increased in comparison to the forecast
information mainly due to trading profit earned on the disposal of listed
investments, additional net rental income from investment properties acquired
during the year and fair value adjustments to investment properties which were
not included in the forecast information.
The forecast information is that information that pertained to the year ending
31 August 2008, as set out in the circular to shareholders dated 5 September
2007.
The above information has not been reviewed or reported on by the company`s
auditors and the company`s results for the year ended ended 31 August 2008 are
expected to be published on or about 30 October 2008.
Cape Town
28 October 2008
Sponsor
Nedbank Capital
Date: 28/10/2008 17:42:01 Produced by the JSE SENS Department.
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