GIJ
GIJ
GIJ - Gijima AST - Trading Statement
GIJIMA AST GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/021790/06)
Share code: GIJ
ISIN: ZAE000064606
("Gijima AST" or "the Company")
TRADING STATEMENT
GijimaAst is currently finalising its results for the six months ended 31
December 2008, which are planned for release on SENS on 4 March 2009.
In this regard, shareholders are advised that GijimaAst`s reported basic
earnings per share ("EPS") and headline earnings per share ("HEPS") for the six
months ended 31 December 2008 are expected to be reasonably in line with the
reported EPS of 4.36 cents and HEPS of 4.25 cents for the six months ended 31
December 2008. Reported EPS and HEPS are both expected to end the six months to
December 2008 between 4.00 cents and 4.50 cents.
GijimaAst`s profits are impacted by foreign exchange translation differences on
consolidation of its intercompany loan accounts denominated in foreign
currencies. These differences do not have any impact on the Company`s cash flow
or operations. The volatility in foreign currency movements experienced during
the six months ended 31 December 2008 resulted in the inclusion of a significant
foreign exchange loss in the reported basic earnings per share, compared to a
foreign exchange gain reported in the comparative reporting period. Should the
impact of foreign exchange translation differences be eliminated in the current
and comparative reporting periods, GijimaAst`s normalised earnings per share for
the six months ended 31 December 2008 are expected to improve between 80% and
100% from the normalised profit per share from continuing operations for the six
months ended 31 December 2008.
The financial information on which this trading statement is based has not been
audited and reported on by the Company`s auditors.
Centurion
05 February 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 05/02/2009 16:26:24 Produced by the JSE SENS Department.
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