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KIR
KIR
KIR - Kairos - Correction of Published Headline Earnings
Kairos Industrial Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/002927/06)
Share code: KIR & ISIN: ZAE000011284
("Kairos" or "the Group")
CORRECTION OF PUBLISHED HEADLINE EARNINGS
Shareholders are hereby advised that the published headline earnings for the six
months ended 31 August 2008 and for the year ended 29 February 2008 were
incorrect.
In relation to the published results for the year ended 29 February 2008, an
impairment of a loan made by the Group to the Kairos BEE Share Trust was
erroneously excluded in determining headline earnings. Subsequently, during the
reporting period for the six months ended 31 August 2008, the impairment was
reversed and similarly the reversal of the impairment was incorrectly excluded
in determining headline earnings for that period. The table below shows the
corrected headline earnings for the above mentioned periods.
Unaudited Unaudited Audited for
for the for the the
6 months 6 months 12 months
ended ended ended
R 000`s 31-Aug-08 31-Aug-07 29-Feb-08
Determination of headline
(loss)/earnings
(Loss)/profit after taxation (4,888) (1,638) 801
Profit on disposal of fixed - - (21)
assets
Retrenchment costs - - 661
Headline (loss)/earnings (4,888) (1,638) 1,441
Number of shares on which
(loss)/earnings
per share is based (000`s) 252,107 252,107 252,107
Headline (loss)/earnings per (1.94) (0.65) 0.57
share (cents)
The previously published headline earnings are shown below.
Unaudited Unaudited Audited for
for the for the the
6 months 6 months 12 months
ended ended ended
R 000`s 31-Aug-08 31-Aug-07 29-Feb-08
Determination of headline
(loss)/earnings
(Loss)/profit after taxation (4,888) (1,638) 801
Profit on disposal of fixed - - (21)
assets
Fair value adjustment (1,429) - 1,513
Retrenchment costs - - 661
Headline (loss)/earnings (6,317) (1,638) 2,954
Number of shares on which
(loss)/earnings
per share is based (000`s) 252,107 252,107 252,107
Headline (loss)/earnings per (2.51) (0.65) 1.17
share (cents)
Johannesburg
24 March 2009
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 24/03/2009 12:57:02 Produced by the JSE SENS Department.
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