ITE - Italtile - Trading statement for the financial year ended 30 June 2009
ITE
ITE
ITE - Italtile - Trading statement for the financial year ended 30 June 2009
Italtile Limited
(Incorporated in the Republic of South Africa)
(Registration number 1955/000558/06)
ISIN: ZAE000099123 Share code: ITE
("Italtile" or "the Group")
TRADING STATEMENT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2009
Shareholders are advised that Earnings Per Share for the twelve months ended 30
June 2009 are expected to be between 5% and 10% lower than the comparative
period to 30 June 2008.
The impact of the global economic downturn on consumer demand has been dramatic
and sustained. Locally, reduced consumer discretionary spend has hampered the
sector`s performance and negatively affected the Group`s results. Whilst
interest rates have declined steadily, the positive impact on consumer spending
is unlikely to filter through for several months. In this challenging
environment, the Group was fortunate to have benefited from strategic alliances
with local suppliers and from its position as the leading value player with well
established brands.
Trading conditions are anticipated to remain difficult. The Group`s continued
strategic imperative will be on entrenching its market leadership position and
capitalising on opportunities as the economy recovers.
Shareholders are advised that the above information has not been reviewed or
reported on by Italtile`s external auditors.
The Group`s results for the year ended 30 June 2009 are expected to be published
on SENS on or about 11 August 2009.
Johannesburg
27 July 2009
Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 27/07/2009 08:00:01 Produced by the JSE SENS Department.
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