ING - Ingenuity Property Investments Limited - Trading statement
ING
ING
ING - Ingenuity Property Investments Limited - Trading statement
INGENUITY PROPERTY INVESTMENTS LIMITED
(formerly SA REIT Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2000/018084/06)
ISIN: ZAE000127411 JSE share code: ING
("Ingenuity" or "the company")
TRADING STATEMENT
In terms of the JSE Limited Listings Requirements, companies are required to
publish a trading statement as soon as they are reasonably certain that the
financial results for the current reporting period will be more than 20%
different than that of the previous corresponding period.
In light of the above, Ingenuity expects to announce basic earnings per share
and headline earnings per share for the 6 months ended 28 February 2009 that
will be 80% to 100% lower and 20% to 30% lower than that of the basic earnings
and headline earnings per share for the 6 months ended 29 February 2008 of 3.31
cents and 1.37 cents respectively.
The difference in basic earnings per share is due mainly to the negative charge
to the income statement in the current period of the fair value adjustments to
financial derivatives; and to the non-recurring trading profit earned on the
disposal of listed investments in the comparative period.
The decrease in headline earnings per share in the current period is due mainly
to the increases in interest rates. Since December 2008, interest rates have
decreased 350 basis points, the effects of which will impact positively during
the second half of the company`s financial year.
The company`s contractual revenue income continues to be sustainable delivering
good quality operational earnings.
The above information has not been reviewed or reported on by the company`s
auditors and the company`s interim results for the 6 months ended 28 February
2009 are expected to be published on or about 15 May 2009.
Cape Town
13 May 2009
Sponsor
Nedbank Capital
Date: 13/05/2009 09:21:02 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.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
