TON - Tongaat Hulett - Trading Statement for the 15 months ended 31 March 2010
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THGL
TON - Tongaat Hulett - Trading Statement for the 15 months ended 31 March 2010
Tongaat Hulett Limited
(Registration number 1892/000610/06)
Share code: TON
ISIN ZAE000096541
TONGAAT HULETT: TRADING STATEMENT FOR THE 15 MONTHS ENDED 31 MARCH 2010
Tongaat Hulett`s financial year-end has changed to 31 March in the current
reporting period. Headline earnings for the 15 months to 31 March 2010 are
expected to be between R840 million and R860 million, which is 34% to 38% above
the corresponding previous 15 month period. Headline earnings per share are
expected to reflect an increase by a similar percentage.
Tongaat Hulett`s profit from operations for the 15 months to 31 March 2010 is
expected to be between R1,650 billion and R1,700 billion, which is 25% to 29%
above the corresponding previous 15 month period.
As reported in the interim results for the 6 months to 30 June 2009 and the 12
months to 31 December 2009, the Zimbabwe operations are now consolidated in
Tongaat Hulett`s financial results. The accounting treatment in terms of IFRS on
the commencement of consolidation of the Zimbabwe operations gave rise to a
balance sheet take-on gain of R1,969 billion, which is recognised in the income
statement. This gain is excluded from profit from operations and headline
earnings. It is included in total net profit. Total net profit for the 15 months
is expected to be approximately R3,000 billion, with net profit per share being
approximately 2800 cents per share.
This trading statement is issued in compliance with the JSE Listings
Requirements. The above information has not been reported on by the auditors.
The audited results for the 15 months ended 31 March 2010 are scheduled for
release on Friday, 28 May 2010.
Tongaat
14 May 2010
Sponsor
INVESTEC BANK LIMITED
Date: 14/05/2010 08:08:03 Produced by the JSE SENS Department.
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