| Thu 5 Nov 2009, 8:50 | | TRE/MOB - Trencor Limited/Mobile Industries Limited - Third Quarter Update |
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MOB TRE
MOB TRE
TRE/MOB - Trencor Limited/Mobile Industries Limited - Third Quarter Update
TRENCOR LIMITED
Incorporated in the Republic of South Africa
Registration No 1955/002869/06
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
MOBILE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
Registration No 1968/014997/06
Share Code: MOB
ISIN: ZAE000091435
("Mobile")
THIRD QUARTER UPDATE
Holders of securities in Trencor and Mobile are advised that Textainer Group
Holdings Limited (NYSE: TGH), in which Trencor has a 62,3% interest, has
announced US GAAP earnings of US$65,4 million for the nine months ended 30
September 2009 compared with US$72,3 million for the same period in 2008.
Profit for the nine months to 30 September 2009 includes a US$15,3 million
gain arising on the early extinguishment of debt; this was the result of the
purchase and cancellation of some of Textainer`s 2005-1 Series Bonds.
Textainer`s results may be viewed on its website www.textainer.com.
Adjusted to conform with IFRS, Textainer`s earnings for the nine months ended
30 September 2009 were US$66,9million (same period 2008: US$72,9 million).
Trencor`s consolidated trading results and earnings for the nine months to 30
September 2009 are as follows:
9 months ended Year ended
30 September 31 December
2009 2008 2008
Unaudited Unaudited Audited
Trading profit after net financing Rm 583 679 810
costs
Net realised and unrealised
foreign exchange translation Rm (296) 270 439
(losses)/gains
Headline earnings attributable to
equity holders of the company Rm 149 552 788
Adjusted headline earnings
attributable to equity holders of Rm 276 358 472
the company
Headline earnings per share Cents 79,6 294,9 420,8
Adjusted headline earnings per Cents 147,3 191,1 251,9
share
SA rand to US dollar:
- Period-end rate of exchange R7,36 R8,29 R9,27
- Average rate of exchange for R8,62 R7,62 R8,12
period
Following the adoption of the 2008 improvements to IFRS with effect from 1
January 2009, headline earnings for the nine months includes net gains and
losses arising from the ongoing disposals from Textainer`s container leasing
fleet; the comparative amounts for 2008 have been restated accordingly.
Adjusted headline earnings continues to include the effect of net gains and
losses arising from the ongoing disposals from Textainer`s container leasing
fleet and exclude the effect of net unrealised foreign exchange gains and
losses arising on the translation of the long-term receivables and related
valuation adjustment and gains realised by Textainer on the early
extinguishment of debt.
Mobile`s headline earnings per share for the nine months were 5,7 cents (same
period 2008: 23,9 cents, full year 2008: 34,1 cents).
The financial information on which this trading update is based has not been
reviewed or reported on by Trencor`s or Mobile`s independent auditors.
On behalf of the Boards
NI Jowell Chairman Trencor Limited
C Jowell Chairman Mobile Industries Limited
5 November 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
www.mobile-industries.net
Date: 05/11/2009 08:50:01 Produced by the JSE SENS Department.
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