| Thu 27 Aug 2009, 13:12 | | JSC - Jasco Electronics Holdings Limited - Trading statement |
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JSC
JSC
JSC - Jasco Electronics Holdings Limited - Trading statement
Jasco Electronics Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1987/003293/06)
Share code: JSC ISIN: ZAE000003794
("Jasco" or "the company")
TRADING STATEMENT
Jasco hereby advises that for the 16 month period ended 30 June 2009
the company expects both earnings per share ("EPS") and headline
earnings per share ("HEPS") to be between 23% and 28% lower than the
comparative 12 month period ended 29 February 2008. This implies EPS
and HEPS of between 35,3 cents and 37,7 cents per share respectively.
The decrease was primarily due to the continued impact of poor
economic and market conditions during the 16 month period ended, as
well as the dilutionary effect of Jasco`s BEE transaction, which
impacted EPS and HEPS as follows:
* The comparative 2008 EPS and HEPS were calculated before
the issue of 17,2 million new ordinary shares, issued in
terms of Jasco`s BEE transaction concluded with Community
Investment Holdings (Pty) Ltd in March 2003. The impact of
this new issue of shares was to dilute both EPS and HEPS
from the 49 cents per share reported for the year ended 29
February 2008, to 39,1 cents per share, which provides a
more comparative base.
The company therefore believes that a more relevant comparison to the
comparative period`s results are the company`s adjusted EPS and HEPS
of 39,1 cents per share. Accordingly, the EPS and HEPS for the 16
month period ended 30 June 2009 are expected to be between 5% and 10%
lower than the adjusted EPS and HEPS for the comparative 12 month
period ended 29 February 2008.
The information in this trading update has not been reported on or
reviewed by the company`s auditors.
Jasco will announce its results on 16 September 2009.
Johannesburg
27 August 2009
Sponsor
PSG Capital (Pty) Ltd
Date: 27/08/2009 13:12:01 Produced by the JSE SENS Department.
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