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SDH
SDH
SDH - SecureData - Trading Update
SECUREDATA HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/010017/06)
Share code: SDH ISIN: ZAE000096368
("SecureData" or "the group")
TRADING UPDATE
In terms of the Listings Requirements of JSE Limited, companies are required to
publish a trading statement as soon as they become reasonably certain that the
financial results for the period to be reported on will differ by more than 20%
from that of the previous corresponding period.
Accordingly, a review of the financial results for the six months ended 31
January 2009, by the board, has indicated that earnings per share ("EPS") and
headline earnings per share ("HEPS") will be between 0.5 and 1.0 cent per share.
EPS and HEPS for the previous corresponding period to 31 January 2008 were 8.7
cents per share.
The EPS reflected above includes the effects of amortisation of intangible
assets and currency profit/losses on intra-group loans. An `adjusted` EPS
calculation that excludes these non-cash items would reflect an `adjusted` EPS
between 2.7 and 3.2 cents per share. Group revenue remains robust and the
decline in EPS is primarily attributable to a poorer earnings performance in the
SecureData Security operations of SecureData Africa, as reported in the
announcements pertaining to the results for the previous financial year as well
as weaker margins in the groups UK based operation MIS-CDS due to the difficult
economic environment in the UK. During the period under review significant steps
were taken to improve the performance of SecureData Security including the
appointment of a new Managing Director, a restructuring of senior management,
and a comprehensive product portfolio review. In addition, significant cost
reductions have been achieved in the UK operations. All other operations are
performing on or ahead of target. Whilst remaining fully cognisant of the
ongoing difficult macro-economic environment in which the group operates, the
board anticipates that the benefits of these steps will begin to show in the
coming period.
The financial information on which this trading statement is based has not been
reviewed or reported on by SecureData`s auditors.
SecureData`s interim financial results are expected to be released on SENS on or
about 17 March 2009.
Johannesburg
25 February 2009
Sponsor
Merchantec (Proprietary) Limited
Date: 25/02/2009 13:13:01 Produced by the JSE SENS Department.
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