BFS - Blue Financial Services Limited - Trading Statement
BFS
BFS
BFS - Blue Financial Services Limited - Trading Statement
BLUE FINANCIAL SERVICES LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1996/006595/06)
JSE Code: BFS
ISIN: ZAE000083655
("Blue" or "the Company" or "the Group")
TRADING STATEMENT
Further to the trading updates released on SENS on 11 March 2010 and 28 May
2010, the Board advises that it has since obtained a reasonable degree of
certainty as to the quantum of the loss incurred by the Company and therefore
wishes to advise shareholders that the Company is expecting to incur a loss of
between R1 billion and R1.050 billion for the year ended 28 February 2010. This
translates into a basic loss of between 166.93 and 175.28 cents per share and a
headline loss of between 131.64 and 139.99 cents per share attributable to
ordinary shareholders, compared to the restated basic earnings per share and
restated headline earnings per share of 15.92 cents and 12.73 cents
respectively, for the previous year.
Shareholders are also referred to the detailed cautionary announcement released
on SENS on 10 June 2010, advising of the proposed recapitalisation of the
Company in conjunction with Mayibuye Group (Proprietary) Limited.
This trading statement has not been reviewed or reported on by the Company`s
external auditors.
Pretoria
15 June 2010
Designated Adviser: Grindrod Bank Limited
Date: 15/06/2010 09:22:01 Produced by the JSE SENS Department.
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