PSV
PSV
PSV - PSV Holdings Limited - Trading update
PSV HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1988/004365/06)
JSE code: PSV
ISIN: ZAE000078705
("PSV")
TRADING UPDATE
PSV is currently finalising its results for the six months ended 31 August 2009
and shareholders are advised that the company expects headline earnings per
share ("HEPS") for the six months then ended to decrease by between 35% and 50%
and earnings per share ("EPS") for the six months then ended to decrease by
between 570% and 590% over those for the previous corresponding period.
EPS were materially affected by goodwill and intangible asset impairments of
approximately R68 million. Although turnover, gross profit and operating profit
increased from the previous corresponding period, net finance charges increased
significantly resulting in a decrease in profitability for the period. A
significant portion of net finance charges comprises notional interest on
deferred purchase considerations relating to certain acquisitions as well as
foreign currency losses arising as a result of the strengthening of the Rand.
The financial information on which this trading update is based has not been
reviewed or reported on by the company`s auditors.
PSV`s results for the six months ended 31 August 2009 are expected to be
published on SENS during the week ending 20 November 2009.
Johannesburg
13 November 2009
Designated Adviser
Vunani Corporate Finance
Date: 13/11/2009 08:41:23 Produced by the JSE SENS Department.
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