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ASR
ASR
ASR - Assore Limited - Trading statement
Assore Limited
(Incorporated in the Republic of South Africa)
Registration number 1950/037394/06
Share code: ASR
ISIN: ZAE000017117
("the Assore group")
TRADING STATEMENT
Shareholders are advised that subsequent to the financial year ended 30 June
2008, the Assore group continued to benefit from strong demand and US Dollar and
Euro prices in the base mineral markets in which it operates. However these
trading conditions have changed radically since the world economic turmoil which
set in at the beginning of October 2008 due to a shortage of bank and consumer
credit. As a result demand and prices have decreased substantially for all the
group`s products, with the exception of iron ore where export volumes have
remained satisfactory but the spot price has weakened. Results of the group
continue to be significantly exposed to fluctuations in exchange rates and have
benefitted from the weaker rates which prevailed towards the end of the half
year.
Attributable earnings per share for the half year to 31 December 2008 are
anticipated to be between R120.00 and R130.00 (half year ended 31 December 2007:
R24,85 per share). Accordingly headline earnings per share are expected to be
between R120.00 and R130.00 (half year ended 31 December 2007: R24,13 per
share). Earnings per share calculations are based on a weighted average of 23,92
million shares in issue for the half year (half year ended 31 December 2007:
27,00 million).
The above earnings forecast information has not been reviewed or reported on by
the Assore group`s auditors.
The results for the half year ended 31 December 2008 are expected to be
published on or about 19 February 2009.
Illovo Boulevard
Johannesburg
29 January 2009
Contact details:
Celine Stemmett
Switchboard: (011) 770 6800
Direct line: (011) 770 6948
Email: celinestemmett@assore.com
Sponsor
Standard Bank
Date: 29/01/2009 16:00:02 Produced by the JSE SENS Department.
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