GIJ - Gijima Ast Group Limited - Trading Statement
GIJ
GIJ
GIJ - Gijima Ast Group Limited - Trading Statement
GIJIMA AST GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number 1998/021790/06
Share code: GIJ
ZAE000064606
("GijimaAst" or "the Company")
TRADING STATEMENT
GijimaAst is currently finalising its results for the six months ended 31
December 2009, which are planned for release on 23 February 2010.
In this regard, shareholders are advised that GijimaAst`s reported basic
earnings per share ("EPS") and headline earnings per share ("HEPS") for the six
months ended 31 December 2009 are expected to improve by more than 100% to
between 8.60 and 9.00 cents from the reported profit per share for the six
months ended 31 December 2008.
GijimaAst`s profits have in previous reporting periods been impacted by foreign
exchange translation differences on consolidation of its intergroup loan
accounts denominated in foreign currencies. These translation differences no
longer impact the Company`s profits and are, from 1 July 2009, recorded within
the Company`s equity. This treatment is in line with International Accounting
Standard 21: The effects of Changes in Foreign Exchange Rates, and follows
management`s assessment and classification of the underlying intergroup loan
accounts as part of GijimaAst`s net investment in the relevant non-trading
foreign operations. Should the impact of these foreign exchange translation
differences be eliminated in the comparative reporting period, GijimaAst`s
earnings per share for the six months ended 31 December 2009 are expected to
improve between 20% and 40% from the normalised earnings per share for the six
months ended 31 December 2008.
The financial information on which this trading statement is based has not been
audited and reported on by the Company`s auditors.
Samrand
22 January 2010
Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)
Date: 22/01/2010 13:18:01 Produced by the JSE SENS Department.
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