| Fri 15 May 2009, 9:22 | | ERB - Erbacon Investment Holdings - Trading statement and renewal of cautionary |
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ERB
ERB
ERB - Erbacon Investment Holdings - Trading statement and renewal of cautionary
Erbacon Investment Holdings Limited
(Incorporated in the Republic of South Africa )
(Registration number 2007/014490/06)
Share code : ERB & ISIN: ZAE000111571
("Erbacon" or "the company")
Trading Statement and Renewal of Cautionary
In terms of the Listings Requirements of the JSE Limited, companies are required
to publish a trading statement as soon as they become reasonably certain that
the financial results for the period to be reported on will differ by at least
20% or more from those of the previous corresponding period.
Shareholders are hereby advised that the headline earnings per share ("HEPS")
for the financial year ended 28 February 2009 (" the reporting period") will be
between 39,5 cents and 40,5 cents per share compared to headline earnings per
share of 33,31 cents per share in the previous corresponding period, and that
the basic earnings per share ("EPS") for the reporting period will be between
40,0 cents and 41,0 cents per share compared to basic earnings per share of
31,12 cents per share for the previous corresponding period.
This represents an increase of between 18,5% to 21,5% and 28,5% to 34,0% for
HEPS and EPS, respectively, after taking into account a 29,2% increase in the
weighted average number of ordinary shares in issue during the reporting period,
namely 131 517 332 (2008: 101 790 624) shares. The total number of shares in
issue at 28 February 2009 was 136 803 175 (2008: 116 364 364) shares.
The acquisition at the end of the previous financial year of Davgram
Construction (Pty) Ltd (trading as "Armstrong Construction") has resulted in a
significant contribution to Erbacon`s revenues and profits during the reporting
period. The civils construction segment, represented by Erbacon Construction
(Pty) Limited, produced strong organic growth, which offset the reduced
contribution from the small plant and formwork segment.
The information in this trading statement has not been reviewed or reported on
by the company`s auditors.
The audited provisional results for the year ended 28 February 2009 are expected
to be released on SENS on or about 28 May 2009.
Renewal of cautionary
Shareholders are further referred to the last renewal of cautionary announcement
of 8 April 2009 in which shareholders were advised that Erbacon has entered into
discussions, which, if successfully concluded, may have a material impact on the
company`s securities. Shareholders are accordingly advised to continue to
exercise caution when dealing in the company`s securities until a further
announcement is made.
15 May 2009
Designated Advisor
QuestCo Sponsors (Pty)Limited
Corporate Advisor
PSG Capital (Pty) Limited
Date: 15/05/2009 09:22:01 Produced by the JSE SENS Department.
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