SBG - Simeka Business Group Limited - Trading statement
SBG
SBG
SBG - Simeka Business Group Limited - Trading statement
Simeka Business Group Limited
(Incorporated in the Republic of South Africa)
(Registration No. 2003/012583/06)
Share code: SBG ISIN code: ZAE000074878
("Simeka" or "the company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited ("JSE Listings
Requirements"), companies are required to publish a trading statement as soon as
they become aware that the financial results for the period to be reported upon
next will differ by at least 20% from the previous corresponding period.
Simeka was required to obtain independent technical opinion regarding certain
IFRS treatments for the year, including the treatment of shares that were clawed
back for the SUHL transaction and the treatment of treasury shares amongst
others. This determination was only finalised this morning and accordingly share
holders are advised that for the 12 month period ended 31 May 2009 the company
expects:
revenue to be between 25% and 30% higher than for the 12 month period ended 31
May 2008;
EBITDA to be between 20% and 30% higher than for the 12 month period ended 31
May 2008; and
cash flow from operations to be between 20% and 30% higher than for the 12 month
period ended 31 May 2008;and
diluted headline earnings per share expected to be 10,6 cents per share compared
to the 15,5 cents for the 12 month period ended 31 May 2008. Headline earnings
per share has been negatively affected by the IFRS treatments.
The financial results on which this trading statement has been based, have not
been reviewed or reported on by the company`s auditors.
The financial results of the company will be published on SENS on 28 July 2009.
27 July 2009
Designated Advisor
Java Capital (Proprietary) Limited
Date: 27/07/2009 17:40:01 Produced by the JSE SENS Department.
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