ADR - Adcorp - Trading Statement For The Twelve Months Ended 28 February 2010
ADR
ADR
ADR - Adcorp - Trading Statement For The Twelve Months Ended 28 February 2010
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
("Adcorp" or "the company")
Share code: ADR & ISIN: ZAE000000139
TRADING STATEMENT FOR THE TWELVE MONTHS ENDED 28 FEBRUARY 2010
In terms of the Listings Requirements of the JSE Limited, companies are required
to publish a trading statement as soon as they become aware that the financial
results for the period to be reported upon next will differ by at least 20% from
the financial results for the previous corresponding period.
Adcorp shareholders are advised that for the twelve months ended 28 February
2010 earnings per share and headline earnings per share are expected to decrease
by between 28% to 32% and 26% and 30% respectively. Earnings per share are
therefore expected to be between 186 cents and 196 cents and headline earnings
per share between 190 cents and 201 cents.
The results have been impacted by the non cash flow amortization of intangibles
arising on acquisitions made during 2008 and 2009. On a normalised trading
position, where non-cash flow IFRS adjustments are eliminated, normalised
earnings per share is expected to be between 18% and 20% lower than those for
the 12 months ended 28 February 2009. As a result, normalised earnings per
share are expected to be between 312 cents and 320 cents.
The financial results on which this trading statement has been based have not
been reviewed or reported on by the company`s auditors. The financial results of
the company will be published on or about 4 May 2010.
28 April 2010
Bryanston
Sponsor
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 28/04/2010 16:44:46 Produced by the JSE SENS Department.
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