BAW BAWP
BAW
BAW/BAWP - Barloworld Limited - Trading statement
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(JSE ISIN: ZAE000026639)
(Share code: BAWP)
(JSE ISIN: ZAE000026647)
("Barloworld or the Company")
TRADING STATEMENT
Trading in equipment southern Africa for the six months to March 2009 continued
to be strong and the automotive division performed well in difficult markets.
However challenging trading conditions prevailed in our international operations
and restructuring charges of approximately R114 million, principally in Iberia,
were incurred to realign our cost base with lower activity levels. Negative
financial instrument adjustments and higher net finance costs also impacted the
group`s profits in the first half of 2009.
While operating profits are expected to be 15% to 25% lower, headline earnings
per share from continuing operations is expected to decrease by 40% to 50% for
the period.
Basic earnings per share and headline earnings per share for the six months to
March 2009 are expected to be 60% to 70% lower than last year mainly due to the
lower headline earnings from continuing operations referred to above and the
fact that discontinued operations in the prior year included a R332 million gain
on the disposal of the laboratory business.
Barloworld Limited expects to announce its results for the six months to 31
March 2009 on 11 May 2009.
This financial information has not been reviewed or reported on by Barloworld`s
auditors.
Enquiries
Barloworld Limited: Sibani Mngomezulu, Tel +27 11 445 1000,
E-mail sibanim@barloworld.com
College Hill: Jacques de Bie, Tel +27 11 447 3030,
E-mail Jacques.deBie@collegehill.co.za
For background information visit www.barloworld.com
5 May 2009
Sponsor: J.P. Morgan Equities Limited
Date: 05/05/2009 15:48:01 Produced by the JSE SENS Department.
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