GIJ
GIJ
GIJ - Gijima Ast Group - Trading Statement
GIJIMA AST GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1998/021790/06
Share code: GIJ
ZAE000064606
("GijimaAst" or "the company" or "the Group")
TRADING STATEMENT
GijimaAst is currently finalising its results for the twelve months ended 30
June 2009, which are planned for release on 25 August 2009.
In this regard, shareholders are advised that GijimaAst`s reported basic
earnings per share ("EPS") and headline earnings per share ("HEPS") for the
twelve months ended 30 June 2009 are expected to be reasonably in line with the
reported EPS of 11.63 cents and HEPS of 11.70 cents for the twelve months ended
30 June 2008. Reported EPS and HEPS are both expected to end the twelve months
to June 2009 between 11.00 cents and 11.50 cents.
GijimaAst`s profits are impacted by foreign exchange translation differences on
consolidation of its intercompany loan accounts denominated in foreign
currencies. These differences do not have any impact on the company`s cash flow
or operations. The volatility in foreign currency movements experienced during
the twelve months ended 30 June 2009 resulted in the inclusion of a significant
foreign exchange loss in the reported basic earnings per share, compared to a
foreign exchange gain reported in the comparative reporting period. Should the
impact of foreign exchange translation differences be eliminated in the current
and comparative reporting periods, GijimaAst`s normalised earnings per share for
the twelve months ended 30 June 2009 are expected to improve between 80% and 90%
from the normalised profit per share from continuing operations for the twelve
months ended 30 June 2008.
The financial information on which this trading statement is based has not been
audited and reported on by the company`s auditors.
Centurion
13 August 2009
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 13/08/2009 13:32:01 Produced by the JSE SENS Department.
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