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CRM
CRM
CRM - Ceramic Industries - Trading statement for the six months ended 31 January
2010
CERAMIC INDUSTRIES LIMITED
(Registration number 1982/008520/06)
(Incorporated in the Republic of South Africa)
Share code: CRM
ISIN: ZAE000008538
("Ceramic" or "the Group")
TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 JANUARY 2010
Ceramic is currently finalising its results for the period ended 31 January
2010.
In terms of rule 3.4(b) of the Listings Requirements of the JSE Limited, a
listed company is required to publish a trading statement as soon as a
reasonable degree of certainty exists that the financial results for the next
period to be reported on will differ by at least 20% from those of the previous
corresponding period.
Shareholders are advised that headline earnings per share ("HEPS) and basic
earnings per share ("EPS") for the period ended 31 January 2010 are expected to
be between 30% and 35% higher than the previous corresponding reporting period.
Notwithstanding the difficult trading environment which featured continued
subdued demand, Ceramic achieved improved results attributable to the following
factors:
- Enhanced planning by the tile factories balanced production levels and
product mix with market demand, resulting in improved internal
efficiencies; and
- A substantially improved performance by the Australian operation,
Centaurus.
Whilst the Group`s tile factories reported a pleasing performance, Betta and
Aquarius delivered disappointing results. Reduced demand in both the private and
government sectors was exacerbated by strike action at Betta and operational
inefficiencies. These factories remain the subject of ongoing management action.
REVIEW OF RESULTS
The information on which this announcement has been based has not been reviewed
or reported on by the Group`s auditors.
PUBLICATION OF RESULTS
Ceramic`s results are expected to be published on SENS on or about 09 March
2010.
Vereeniging
22 February 2010
Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 22/02/2010 09:20:02 Produced by the JSE SENS Department.
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JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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