QPG - Quantum Property Group Limited - Trading Update
QPG
QPG
QPG - Quantum Property Group Limited - Trading Update
QUANTUM PROPERTY GROUP LIMITED
Incorporated in the Republic of South Africa
(Registration number 1984/002788/06)
Share code: QPG ISIN: ZAE000125647
("QPG")
TRADING UPDATE
In terms of the Listings Requirements of 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 differ by more than 20%
from the previous corresponding period.
Accordingly, a review of the financial results for the six months ended 28
February 2010 by management has indicated that the basic and headline loss per
share is expected to be between 17.05 and 18.05 cents compared to the basic
earnings and headline earnings per share of 4.91 cents for the six months ended
28 February 2009.
The net asset value per share is expected to be between 265.2 and 275.6 cents
per share as at 28 February 2010.
The decrease in basic earnings per share and headline earnings per share can be
attributed to a combination of:
- restraint of trade write-offs;
- lower than anticipated occupancy rates, in line with the general downturn
in the hospitality industry, which are expected to improve during the 2010
FIFA World Cup; and
- the completion of the development of the apartments and the retail centre
taking place only after the end of the reporting period.
The financial information on which this trading statement is based has not been
reviewed or reported on by QPG`s auditors. QPG`s financial results are expected
to be released by 28 May 2010.
Johannesburg
24 May 2010
Designated Adviser
Merchantec Capital
Date: 24/05/2010 15:30:01 Produced by the JSE SENS Department.
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