SKJ
SKJ
SKJ - Sekunjalo Investments Limited - Trading statement
Sekunjalo Investments Limited(Incorporated in the Republic of South
Africa)(Registration number 1996/006093/06)Share code: SKJ & ISIN:
ZAE000017893("Sekunjalo" or "the company" or "the Group")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a listed company is
required to publish a trading statement as soon as it is satisfied that a
reasonable degree of certainty exists that its financial results for the next
reporting period will differ by 20% or more from those of the corresponding
reporting period of the previous year. The Board of Directors of Sekunjalo
accordingly advises that they expect headline earnings per share and earnings
per share for the year ended 31 August 2008 to be between 3.6c to 4.4c and
1.50c to 1.83c per share, respectively.
The results for the year have been impacted largely due to the
reclassification of the Group`s Biotechnology interest. The Biotechnology
interest, which was previously treated as an Investment in the consolidated
Financial statements and accounted for as such, has now been reclassified as
an Investment in Associate due to the Group obtaining a significant influence
over the business. Consequently, profit and losses on the fair valuation
adjustments previously recognised through the income statement will now be
eliminated on consolidation and thus not impact on the Group income statement.
After adjusting the prior year headline earnings for the reclassification of
this investment, the current headline earnings shows a positive impact from -
24c in the prior year to the current year`s range of between 3.6c to 4.4c.
It is anticipated that the financial results of Sekunjalo for the year ended
31 August 2008 will be released on SENS on or about 25th November 2008.
The financial information on which this trading statement is based has not
been reviewed and reported on by the company`s auditors.
Cape Town
21 November 2008
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 21/11/2008 16:41:19 Produced by the JSE SENS Department.
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