DAW - Distribution and Warehousing Network Limited - Trading Statement for the
DAW
DAW
DAW - Distribution and Warehousing Network Limited - Trading Statement for the
six months ended 31 December 2009
Distribution and Warehousing Network Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/008265/06)
Share code: DAW & ISIN code: ZAE000018834
("Dawn" or "the Company")
Trading Statement for the six months ended 31 December 2009
In accordance with paragraph 3.4 (b) of the Listings Requirements of the JSE
Limited, companies are required to publish a trading statement as soon as they
are reasonably certain that the financial results for the current reporting
period will be more than 20% different than that of the previous corresponding
period.
Shareholders are advised that the Company`s earnings per share and headline
earnings per share for the six months ended 31 December 2009 are expected to be
60% to 70% lower than the reported results for the prior comparative period.
Although the building market showed some improvement in the last six months,
supported by continued demand in the building refurbishment and upgrade sector,
results were significantly impacted by continued delays and non-awarding of
infrastructure tenders. This affected Dawn specifically on water and sewer-
related infrastructure projects and continued to negatively impact the
performance of the business units Incledon and DPI.
Whilst no meaningful recovery is expected from building or municipal and civil
water infrastructure related activities before the year end to June 2010, the
lower interest rate environment and some easing of the credit markets could
contribute to an improvement in consumer confidence and the general trading
environment.
The financial information on which this trading statement is based has not been
reviewed by the Company`s auditors. The Company`s results will be released on or
about 10 March 2010.
Johannesburg
22 February 2010
Sponsor
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 22/02/2010 16:50:06 Produced by the JSE SENS Department.
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