| Thu 6 Nov 2008, 8:24 | | TRE / MOB - Trencor / Mobile - Third Quarter Update |
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MOB TRE
MOB TRE
TRE / MOB - Trencor / Mobile - Third Quarter Update
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
MOBILE INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1968/014997/06)
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
THIRD QUARTER UPDATE
Holders of securities in Trencor and Mobile are advised that Textainer Group
Holdings Ltd (NYSE: TGH), in which Trencor has a 62,6% interest, is required to
issue quarterly profit reports. Accordingly, Trencor and Mobile have decided to
publish a trading update in respect of the quarters ending March and September
each year, of which this is the first, in addition to their Interim Results and
the Reviewed Results announcements for the periods ending June and December
respectively.
Textainer has announced US GAAP earnings of US$72,3 million for the nine months
ended 30 September 2008 compared with US$52,6 million for the same period in
2007. Textainer`s results may be viewed on its website www.textainer.com.
Adjusted to conform with IFRS, Textainer`s earnings for the nine months ended
30 September 2008 were US$72,9 million (same period 2007: US$50,0 million).
Trencor`s consolidated trading results and earnings for the nine month period to
30 September 2008 are as follows:
Nine months ended 30 Year ended
September 31 December
2008 2007 2007
Unaudited Unaudited Audited
Trading profit after net Rm 678,7 529,8 675,1
financing costs
Net realised and
unrealised foreign Rm 270,1 15,5 (46,0)
exchange translation
gains/(losses)
Headline earnings
attributable to equity Rm 498,9 219,0 398,5
holders of the company
Adjusted headline earnings
attributable to equity Rm 357,9 257,6 400,7
holders of the company
Headline earnings per Cents 266,4 117,0 212,9
share
Adjusted headline earnings Cents 191,1 137,7 214,0
per share
SA rand to US dollar:
- Period-end rate of R8,29 R6,85 R6,78
exchange
- Average rate of exchange R7,62 R7,13 R7,02
for period
Adjusted headline earnings includes the effect of net gains and losses arising
from the ongoing disposals from Textainer`s container leasing fleet and excludes
the effect of net unrealised foreign exchange gains and losses arising on the
translation of the long-term receivables and related valuation adjustment. In
respect of the comparative information, it also excludes certain non-recurring
profits in TrenStar Inc.
Mobile`s headline earnings per share for the nine months were 21,6 cents (same
period 2007: 9,4 cents; full year 2007: 17,2 cents).
The financial information on which this trading update is based has not been
reviewed or reported on by Trencor`s or Mobile`s independent auditors.
On behalf of the Boards
NI Jowell Chairman Trencor Limited
C Jowell Chairman Mobile Industries Limited
6 November 2008
www.trencor.net
www.mobile-industries.net
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 06/11/2008 08:24:50 Produced by the JSE SENS Department.
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