AFT
AFT
AFT - Afrimat Limited - Trading Statement
Afrimat Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022534/06)
Code: AFT & ISIN: ZAE000086302
("Afrimat" or "the Company")
TRADING STATEMENT
This trading statement in respect of the results for the year ended 28 February
2009 is published In accordance with paragraph 3.4 (b) of the JSE Listings
Requirements.
As set out in the interim results announcement published on SENS on 30 October
2008, Afrimat incurred significant start-up costs in respect of new operations
and costs relating to changes in the BEE shareholding structure. Improved
results were since achieved in the third quarter of the financial year.
However, in the fourth quarter trading conditions deteriorated and certain large
scale infrastructure projects were delayed, with off-take only commencing in
April 2009.
In light of the above, the Company`s earnings and headline earnings per share
for the year ended 28 February 2009 are expected to be between 35% and 45% lower
than the reported earnings and headline earnings per share for the prior
comparative period. Headline earnings per share excluding the once-off start-up
costs and BEE costs above, reflect a lesser decline of between 20% and 30%.
Afrimat expects a significant improvement in performance in the financial year
ahead as large scale infrastructure projects gather momentum and the benefits of
the Company`s aggressive efficiency improvement programme begin to be realised.
The financial information on which this trading statement is based has not been
reviewed by the Company`s auditors.
The Company`s annual financial results will be released on or about Thursday, 14
May 2009.
Johannesburg
17 April 2009
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 17/04/2009 12:10:01 Produced by the JSE SENS Department.
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