AVU
AVU
AVU - Avusa Limited - Trading Statement
Avusa Limited
Incorporated in the Republic of South Africa
(Registration number: 2008/002461/06)
Share code: AVU
ISIN code: ZAE000115895
("Avusa" or "the company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, Avusa advises that
earnings for the year ended 31 March 2010 are expected to be as follows:
Earnings per share between 45% and 55% lower than the comparative period; and
Headline earnings per share between 35% and 45% lower than the comparative
period.
The comparative period`s earnings include a R62 million profit on the sale of
Avusa`s Nigerian and Kenyan operations, which together with an operating loss of
R23 million generated by those operations, yielded a net profit from
discontinued operations of R39 million. The R62 million profit on sale is
excluded from headline earnings.
Apart from the impacts of the discontinued operations, the expected decrease in
earnings is primarily as a result of an approximately 17% reduction in net
advertising income.
The financial information on which this trading statement is based has not been
reviewed or reported on by the company`s auditors.
Avusa`s financial results for the year ended 31 March 2010 are scheduled to be
announced on or about Thursday, 24 June 2010.
11 June 2010
Johannesburg
Sponsor
Nedbank Capital, a division of Nedbank Limited
Date: 11/06/2010 10:28:01 Produced by the JSE SENS Department.
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