SKW
SKW
SKW - Skinwell Holdings Limited - Trading Statement
SKINWELL HOLDINGS LIMITED
(formerly Placecol Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2003/025374/06)
JSE code: SKW
ISIN: ZAE000135893
("Skinwell" or "the company")
TRADING STATEMENT
On 22 April 2010 the company published a trading statement advising shareholders
that the company was in the process of finalising its results for the year ended
28 February 2010 and that the company expected its results to reflect an
increase in both loss and headline loss per share of at least 20% when compared
to the results reflected in the comparative period. At that stage, the company
was unable to quantify, with the degree of certainty required for a more
accurate update, the expected basic and headline loss per share for the year
ended 28 February 2010.
Shareholders are advised that the company is currently in the process of
finalising its results for the year ended 28 February 2010. Skinwell expects to
report a loss per share of between 16.7 cents and 13.9 cents (2009: 8.8 cents
loss per share). The headline loss per share is expected to be between 15.7
cents and 13.1 cents per share (2009: 3.9 cents headline loss per share).
As per the previous trading statement, the decline in the company`s results is
mainly attributable to difficult trading conditions, fair value adjustments,
once off restructuring costs and the write off of bad debts.
The financial information on which this trading update is based has not been
reviewed or reported on by the company`s auditors.
Skinwell will publish its results for the year ended 28 February 2010 before the
end of May 2010.
27 May 2010
Designated Adviser
Grindrod Bank Limited
Date: 27/05/2010 09:44:01 Produced by the JSE SENS Department.
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