ABK - African Brick Centre Limited - Trading Statement
ABK
ABK
ABK - African Brick Centre Limited - Trading Statement
AFRICAN BRICK CENTRE LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1999/006214/06)
Share code: ABK & ISIN: ZAE000105169
("African Brick" or "the Company")
TRADING STATEMENT
In terms of paragraph 3.4(b) of the Listing Requirements of the JSE Limited, a
listed company must publish a trading statement as soon as it is satisfied that
a reasonable degree of certainty exists that the headline earnings and earnings
per share of the company for the period to be reported on will differ by at
least 20% from that of the previous corresponding period.
The Board of Directors ("the Board") therefore wishes to advise shareholders
that African Brick expects headline and attributable earnings per ordinary share
for the twelve months ended 28 February 2009 to be between -12.7 and -14.8 cents
per share, and between -26.5 and -28.7 cents per share respectively.
This is between 216% to 236%, and 343% to 363%, respectively lower than the 10.9
cents per share reported in the previous corresponding period.
The Board has resolved to impair all of the goodwill on balance sheet in order
to more realistically reflect the value of the business, hence the difference
between headline and attributable earnings per share.
Shareholders are reminded that the Yakani Group, which is the controlling
shareholder of the Company, has seconded its Group CEO, Mr Hugo Knoetze, as CEO
of African Brick, in order to consolidate their investment and to speed up the
turnaround of the Company.
The forecast information in this trading statement has not been reviewed and
reported on by the auditors of the Company.
The results for the twelve months ended 28 February 2009 will be released on
SENS on or about 26 May 2009.
Johannesburg
14 May 2009
PSG Capital (Proprietary) Limited
Designated Advisor
Date: 14/05/2009 13:21:01 Produced by the JSE SENS Department.
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