AGI - A G Industries Limited - Cautionary Announcement
AGI
AGI
AGI - A G Industries Limited - Cautionary Announcement
A G INDUSTRIES LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
REGISTRATION NUMBER: 1980/004051/06
SHARE CODE: AGI
ISIN: ZAE000039467
("AGI", "the Group" or "the Company")
CAUTIONARY ANNOUNCEMENT
Trading conditions have deteriorated markedly since the Company`s interim
announcement, published on 9 March 2009, particularly in the residential
construction sector in which the Group operates. This deterioration has had a
negative impact on the Group`s operating results and cash flow.
As a result of this slowdown, headline operating profits for the 9 months ended
31 March 2009 have decreased to a loss of approximately R14,6 million as
compared to the headline operating profit of R12,2 million for the 9 months
ended 31 March 2008.
Management does not expect any significant improvement in the trading conditions
for the remainder of the current financial year.
Shareholders are advised that this financial information has not been reviewed
nor reported on by the Company`s auditors.
A major restructuring program is underway, and includes reducing the Group`s
cost base to place the group on a firm foundation. The plan also includes the
potential disposal of
non-core assets.
In light of the above, shareholders are advised to exercise caution in dealing
in their AGI shares until a further announcement is made.
Johannesburg
8 June 2009
SPONSOR
SASFIN CAPITAL
A DIVISION OF SASFIN BANK LIMITED
Date: 08/06/2009 12:23:02 Produced by the JSE SENS Department.
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