| Tue 11 May 2010, 8:37 | | SAN - Sanyati - Trading statement in respect of the year ended 28 February 2010 |
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SAN
SAN
SAN - Sanyati - Trading statement in respect of the year ended 28 February 2010
Sanyati Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/002538/06)
Share code: SAN
ISIN code: ZAE000081055
("Sanyati" or "the Group")
Trading statement in respect of the year ended 28 February 2010
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, a
company is required to publish a trading statement as soon as it becomes aware,
with a reasonable degree of certainty, that the financial results for the next
period to be reported on will differ by 20% or more from the financial results
of the previous corresponding period.
Shareholders are advised that Sanyati is currently finalising its results for
the year ended 28 February 2010. Normalised fully diluted headline earnings per
share from continuing operations is expected to be between 10% and 20% higher,
and basic earnings per share from continuing operations between 20% and 30%
higher than the prior comparative period.
Shareholders were advised in October 2009 of the R50.2 million change in an
accounting estimate which was recognised in the interim results for the six
months ended 31 August 2009. Earnings per share (EPS) and headline earnings per
share(HEPS) both factor in the impact of this amount of R50.2 million as well as
the loss on discontinued operations resulting from the sale of the roads
surfacing business announced in February 2010. As a result, EPS for the year
ended 28 February 2010 is expected to be similar to the reported EPS for the
year ended 28 February 2009, and for the same period, the 2010 HEPS, both basic
and fully diluted, is expected to be between 35% and 45% lower than the reported
2009 HEPS.
The financial information, on which this trading statement is based, has not
been reviewed or reported on by the Group`s auditors.
The Group`s financial results will be released on 18 May 2010.
Bryanston
11 May 2010
Sponsor
Exchange Sponsors
Date: 11/05/2010 08:37:01 Produced by the JSE SENS Department.
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