RAR
RAR
RAR - Rare Holdings Limited - Trading statement
RARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2002/025247/06)
Share code: RAR ISIN: ZAE000092714
("Rare" or "the company")
TRADING STATEMENT
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 vary by more than 20% compared to the previous corresponding period.
Shareholders are advised that the company`s results are expected to reflect a
loss of between R7.6m and R8.0m for the period ended 31 December 2009. This
translates into a loss per share and a headline loss per share of between 8.6
cents and 9.0 cents.
This loss arose as a result of delays in and a reduction of public and private
expenditure on infrastructure and project work. The company was also affected by
the strong rand and fluctuations in the steel price, which resulted in lower
margins. These losses were incurred in the first quarter but management
intervention in respect of costs and stock controls led to a break-even position
in the second quarter. The company expects to sustain the cost cutting
initiatives and for trading conditions to improve for the remainder of the year.
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 by
mid March 2010.
Johannesburg23 February 2010
Designated Adviser: PSG Capital (Pty) Limited
Date: 23/02/2010 15:05:13 Produced by the JSE SENS Department.
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