|
WEA
WEA
WEA - W G Wearne Limited - Trading statement
W G Wearne Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005983/06)
JSE code: WEA ISIN: ZAE000078002
("Wearne" or "the company")
In terms of the Listings Requirements of the JSE Limited, companies are
required to publish a trading statement as soon as they are satisfied that a
reasonable degree of certainty exists that the financial results for the
period to be reported on will differ by at least 20% or more from the
financial results for the previous corresponding period.
Wearne is currently finalising its results for the year ended 28 February
2009 and shareholders are advised that the directors expect a loss per share
of between 4.3 cents and 5.8 cents and a headline loss per share of between
9.6 cents and 13.0 cents, compared to earnings per share and headline
earnings per share of 27.5 and 26.9 cents, respectively, reported for the
year ended 29 February 2008. The reduction in earnings is as a result of:
- the weaker trading conditions experienced during the year, with
particular reference to the latter part of the financial year, with a
further slow-down in the residential building market and the significant
rainfall that hampered operations; all of which had a severe negative
impact on the ready-mixed concrete operations of the company;
- the higher interest rate environment experienced during the 2009
financial year;
- a diesel hedge entered into by the company, which had a negative effect
on - the results when fuel charges decreased in the latter part of the
financial year; and
- once-off start up costs incurred with the opening of two new pre-cast
manufacturing facilities.
Notwithstanding the above, the directors have implemented corrective measures
and expect better trading conditions to the end of February 2010.
The financial information on which this trading statement is based has not
been reviewed or reported on by the company`s auditors.
The company`s results for the year ended 28 February 2009 are expected to be
released on SENS on or before 29 May 2009.
Johannesburg
18 May 2009
Designated Adviser
Vunani Corporate Finance
Date: 18/05/2009 16:08:06 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
