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SPG
SPG
SPG - Super Group - Trading statement
Super Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1943/016107/06)
Share code: SPG
ISIN: ZAE000011334
("Super Group" or "the Group")
Trading statement
Super Group is scheduled to release its financial results for the six-month
period ended 31 December 2009 on 24 February 2010. In terms of the JSE
Limited Listings Requirements, issuers are required to publish a trading
statement as soon as they are satisfied that a reasonable degree of certainty
exists that the financial results for the period to be reported upon next will
differ by at least 20% from those of the prior comparative period.
Despite tough economic and trading conditions that prevailed during the six-
month period ended 31 December 2009, the Group is pleased to announce that the
financial restructuring of the Group has been substantially completed and the
rights offer successfully concluded. These were the Group`s main focus areas
during the six-month period ended 31 December 2009. The Group has also made
progress on disposing of the discontinued businesses. The depressed global
economic conditions continue to impact the industry sectors in which Super
Group operates and lower sales volumes across the divisions affected the
financial results. Notwithstanding this position, the Group was able to
generate positive earnings in its first financial results post the
restructuring.
Shareholders are advised that Super Group is expecting to report a
consolidated net profit for the six-month period ended 31 December 2009 of
between R30 million and R33 million, resulting in earnings per share ("EPS")
(including losses from discontinued operations) of between 2.3 cents and 2.6
cents, and a headline earnings per share ("HEPS") of between 1.5 cents and 1.8
cents. This compares with a loss of R350 million which equates to a loss of
86.7 cents per share and headline loss of 15.8 cents per share for six-month
period ended 31 December 2008. The EPS and HEPS in the current year have been
impacted by the increased weighted average number of shares in issue resulting
from the rights offer.
The net profit from continuing operations is expected to be a profit of
between R68 million and R75 million, equivalent to an EPS of between 6.4 cents
and 7.1 cents. Super Group`s continuing operations are expected to generate
positive HEPS of between 6.2 cents and 6.9 cents. The net loss from
discontinued operations is expected to be between R45 million and R50 million.
31 December 2009 31 December
2008
Low range High Range Actual
EPS (continuing operations) 6.4 cents 7.1 cents 13.0 cents
HEPS (continuing operations) 6.2 cents 6.9 cents 13.4 cents
EPS 2.3 cents 2.6 cents (86.7) cents
HEPS 1.5 cents 1.8 cents (15.8) cents
Weighted number of shares 1 059 million 1 059 million 457 million
Shareholders are further advised that the weighted number of shares for the
full year to 30 June 2010 is expected to be approximately 2.2 billion shares
following the rights offer.
The financial information on which this trading statement is based has not
been reviewed or reported on by Super Group`s external auditors.
Sandton
17 February 2010
Sponsor to Super Group: Deutsche Securities (SA) (Proprietary) Limited
Date: 17/02/2010 16:35:02 Produced by the JSE SENS Department.
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