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MTA
MTA
MTA - Metair - Trading Statement
METAIR INVESTMENTS LIMITED
Reg No. 1948/031013/06
(Incorporated in the Republic of South Africa)
Share code : MTA
ISIN code : ZAE 000090692
("Metair" or "the Group")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited ("the Listings
Requirements"), companies are required to publish a trading statement as soon
as they are reasonably certain that the financial results for the current
reporting period will differ by more than 20% from those of the previous
corresponding period.
Accordingly, Metair advises that it expects the Group`s headline earnings per
share for the half year ended 30 June 2009 to be between 103% and 123% lower
compared to the previous corresponding period. This equates to a headline
loss per share of between 1,4 and 12,0 cents per share, compared to headline
earnings of 53 cents per share for the previous corresponding period.
Earnings per share for the half year ended 30 June 2009 are estimated to be
between 131% and 151% lower compared to the previous corresponding period.
This equates to a loss per share of between 16,4 and 27,0 cents per share,
compared to earnings of 53 cents per share for the previous corresponding
period.
Trading during the period proved to be very difficult as the percentage year
on year declines experienced in the trading months during this period were the
worst seen in 30 years.
Global economic events and the continued decline in the local production of
vehicles have triggered further impairment testing under International
Accounting Standard 36 and these impairment charges cause the difference
between the estimates of earnings per share and the estimates of headline
earnings per share. Impairment charges are expected in property, plant,
equipment and goodwill within subsidiaries which produce plastic parts and
wire harnesses.
It is anticipated that the results for the half year ended 30 June 2009 are
expected to be published on or about 24 August 2009.
The above information has not been reviewed or reported on by the Group`s
auditors.
BY ORDER OF THE BOARD
Johannesburg
13 July 2009
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 14/07/2009 09:16:01 Produced by the JSE SENS Department.
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