QHL
QHL
QHL - Queensgate` - Trading Statement
QUEENSGATE HOTELS AND LEISURE LIMITED
(Formerly Cyberhost Limited)
(Incorporated in the Republic of South Africa)
(Registration number 1998/013649/06)
Share code: QHL ISIN code: ZAE 000113718
(`Queensgate` or `the Company`)
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited ("the JSE"), listed
companies are required to publish a trading statement as soon as they become
reasonably certain that the financial results for the next period to be reported
on will be more than 20% different from those of the previous corresponding
period or from a profit forecast previously provided to the market in relation
to such period.
The board is pleased to advise shareholders that the results for the twelve
months ended 31 August 2009, are expected to exceed the prior period earnings
per share by between 170% to 190% and the headline earnings per share to be
within 10% of the prior period.
The results for the twelve months ended 31 August 2009 are, however ,expected to
be lower than the revised forecast as announced in February 2009 and further
clarified in July 2009 with the earnings per share and headline earnings per
share expected to decrease by between 55% to 75%.
This decrease is partly due to the expected results from hospitality sector
being poorer than previously anticipated and the delay in the completion of a
development project until after the financial year end. Both of these can be
ascribed to the continued economic crisis being experienced in the current
economic climate, although a return to more normal levels of occupancy have been
experienced in the past two months.
This financial information has not been reviewed and reported on by the auditors
of the company.
By order of the board
Johannesburg
02 September 2009
Designated Advisor
Arcay Moela Sponsors
(Proprietary) Limited
Date: 02/09/2009 13:43:01 Produced by the JSE SENS Department.
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