ART
ART
ART - Argent - Trading Statement
Argent Industrial Limited
(Registration number 1993/002054/06)
(Incorporated in the Republic of South Africa)
Share Code: ART & ISIN: ZAE000019188
("Argent" or "the company")
TRADING STATEMENT
In compliance with paragraph 3.4 of the Listing Requirements of the JSE Limited,
a listed company is required to publish a trading statement as soon as it
becomes reasonably certain that the financial results for the next period to be
reported on will differ by at least 20% from those of the previous reported
period.
Argent wishes to advise shareholders that the earnings per share and headline
earnings per share for the year ending 31 March 2009 are expected to decrease
between 44% and 49% from the corresponding period ending 31 March 2008.
The primary reasons for this decrease in earnings per share and headline
earnings per share is as a result of the Automotive and Steel Divisions being
severely affected by the slowdown in these industries as a result of the global
financial crisis. In terms of IAS 2 it has also been necessary to write down the
steel inventory as a result of the average price decrease of 55% in our steel
product range since September 2008.
The financial information on which this trading statement has been based has not
been reviewed or reported on by the group`s auditors.
Umhlanga
27 May 2009
Sponsor:
Investec Bank Limited
Date: 27/05/2009 12:43:02 Produced by the JSE SENS Department.
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