EFF - Efficient Financial Holdings Limited - Trading Statement For The 12 Months
EFF
EFF
EFF - Efficient Financial Holdings Limited - Trading Statement For The 12 Months
Ending 31 August 2009
EFFICIENT FINANCIAL HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2006/036947/06)
Share code: EFF
ISIN: ZAE000133286
("EFH")
TRADING STATEMENT FOR THE 12 MONTHS ENDING 31 AUGUST 2009
As indicated in our interim results commentary, due to the collapse in local and
global equity markets over the reporting period our financial results for the
year to 31 August 2009 will be well below those of the comparable prior year
period. EFH takes a long-term view of our business and the Board is certainly
not concerned by a period of underperformance, especially whilst occurring in
what has been one of the most extreme set of equity market conditions
experienced in the last few decades.
The extraordinary equity market conditions impacted negatively on the group`s
ability to earn performance fees and, to a lesser extent, reduced our assets
under management, therefore affecting the group`s annuity income. However, the
group still generated annuity income and positive cash flows with costs being
well managed.
Management expects EFH`s headline earnings per share for the 12 months ending 31
August 2009 to be between 11 cents and 13 cents per share (2008: 65.34 cps).
The financial information on which this trading statement is based has not been
reviewed or reported on by the group`s auditors.
EFH`s results for the period will be announced on SENS on or about 27 November
2009.
13 August 2009
Sponsor
Java Capital (Proprietary) Limited
Date: 13/08/2009 17:18:01 Produced by the JSE SENS Department.
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