HWN - Howden Africa Holdings Limited - Trading update
HWN
HWN
HWN - Howden Africa Holdings Limited - Trading update
Howden Africa Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/002982/06)
Share code: HWN ISIN: ZAE000010583
("HAHL" or "the Company")
Trading update
In terms of the Listings Requirements of the JSE Limited, companies are
required to publish a trading statement as soon as they become reasonably
certain that the financial results for the period to be reported on will be
more than 20% different from that of the previous corresponding period.
Shareholders are advised that forecast earnings and headline earnings per
share from continuing operations are in the range of between 145.0 cents and
163.0 cents for the year to 31 December 2009, which compares with the earnings
and headline earnings per share of 92.41 cents and 93.22 cents respectively
from continuing operations for the year ended 31 December 2008.
The forecast earnings per share for the year ended 31 December 2009, benefited
from a tax credit of R1.7 million allowed by the authorities for the write-off
of intellectual property acquired when the Company listed in 1996. In 2008 the
tax charge included an STC amount of R6.6 million paid in respect of the
special dividend of R65.7m paid in that year.
Excluding the aforementioned tax adjustments, the forecast earnings per share
would still be more than 20% different from that of the previous reporting
period.
The financial information on which this trading statement is based has not
been reviewed or reported on by HAHL`s auditors. The results will be published
in due course.
5 March 2010
Sponsor
PricewaterhouseCoopers Corporate Finance (Proprietary)
Limited (Registration number 1970/003711/07)
Date: 05/03/2010 11:25:01 Produced by the JSE SENS Department.
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