| Wed 6 May 2009, 16:00 | | TRE/MOB - Trencor/Mobile Industries - First quarter update |
|
MOB TRE
MOB TRE
TRE/MOB - Trencor/Mobile Industries - First quarter update
TRENCOR LIMITED
Incorporated in the Republic of South Africa
Registration No 1955/002869/06
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
MOBILE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
Registration No 1968/014997/06
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
FIRST QUARTER UPDATE
Holders of securities in Trencor and Mobile are advised that Textainer Group
Holdings Limited (NYSE: TGH), in which Trencor has a 62,3% interest, has
announced US GAAP earnings of US$20,9 million for the quarter ended 31 March
2009 compared with US$17,4 million for the same period in 2008. Profit for the
first quarter of 2009 includes US$2,5 million gain arising on the early
extinguishment of debt; this was the result of the purchase and cancellation of
some of the 2005-1 Series Bonds. Textainer`s results may be viewed on its
website www.textainer.com.
Adjusted to conform with IFRS, Textainer`s earnings for the quarter ended 31
March 2009 were US$21,2 million (same period 2008: US$17,7 million).
Trencor`s consolidated trading results and earnings for the quarter to 31 March
2009 are as follows:
Quarter ended Year
31 March ended 31
December
2009 2008 2008
Unaudit Unaudit Audited
ed ed
Trading profit after net Rm 282 174 810
financing costs
Net realised and unrealised
foreign exchange Rm 60 236 439
translation gains
Headline earnings
attributable to equity Rm 170 240 720
holders of the company
Adjusted headline earnings
attributable to equity Rm 127 83 472
holders of the company
Headline earnings per share Cen 90,9 127,9 384,4
ts
Adjusted headline earnings Cen 67,7 44,1 251,9
per share ts
SA rand to US dollar:
- Period-end rate of R9,60 R8,10 R9,27
exchange
- Average rate of exchange R9,82 R7,46 R8,12
for period
Following the adoption of the 2008 improvements to IFRS with effect from 1
January 2009, headline earnings for the quarter includes net gains and losses
arising from the ongoing disposals from Textainer`s container leasing fleet; the
comparative amounts for 2008 have not been amended as the improvements were
adopted prospectively.
Adjusted headline earnings continues to include the effect of net gains and
losses arising from the ongoing disposals from Textainer`s container leasing
fleet and exclude the effect of net unrealised foreign exchange gains and losses
arising on the translation of the long-term receivables and related valuation
adjustment
Mobile`s headline earnings per share for the quarter were 7,3 cents (same period
2008: 10,4 cents, full year 2008: 31,1 cents).
The financial information on which this trading update is based has not been
reviewed or reported on by Trencor`s or Mobile`s independent auditors.
On behalf of the Boards
NI Jowell Chairman Trencor Limited
C Jowell Chairman Mobile Industries Limited
6 May 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
www.mobile-industries.net
Date: 06/05/2009 16:00:04 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
