MZR
MZR
MZR - Mazor - Trading Statement
MAZOR GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/017221/06)
Share code: MZR & ISIN: ZAE000109823
("Mazor" or "the Company")
TRADING STATEMENT
In accordance with paragraph 3.4 (b) of the Listings Requirements of the JSE
Limited, shareholders are advised that the Company`s results for the year
ended 28 February 2010, being earnings and headline earnings per share, are
expected to be between 35% and 45% lower than the reported earnings and
headline earnings per share for the prior comparative period.
Trading conditions deteriorated during the second half of the year with a
particular slowdown witnessed in the Western Cape, the region in which the
company is particularly dominant. Many large-scale projects have been
cancelled or postponed as a consequence of developers not managing to secure
funding. The Company has been proactive in venturing into regions outside of
the Western Cape however this business has been secured at lower margins when
compared to Mazor`s traditional business.
Mazor has reduced its labour force as a result of the current trading
environment and hence the results include once-off severance costs which have
negatively impacted earnings. The Company will continue to focus on cost
cutting and rationalization to ensure efficiency. The Company continues its
geographical diversification in the glass and aluminium distribution business
through Independent Glass and Hulamin Building Systems.
The financial information on which this trading statement is based has not
been reviewed by the Company`s auditors.
The Company`s financial results will be released on or about 19 May 2010.
Cape Town
30 April 2010
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 30/04/2010 17:02:02 Produced by the JSE SENS Department.
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