| Thu 22 Jul 2010, 17:30 | | ILA - Iliad - Trading statement |
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ILA
ILA
ILA - Iliad - Trading statement
Iliad Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/011938/06)
Share code: ILA & ISIN: ZAE000015038
("Iliad")
Trading statement
In accordance with paragraph 3.4 (b) of the Listings Requirements of the JSE
Limited, shareholders are advised that Iliad`s results for the six months ended
30 June 2010, being earnings and headline earnings per share, are expected to be
between 29% and 32% lower than those reported for the prior comparative
period. Profit before tax, is expected to be between 34% and 37% lower than that
reported for the prior comparative period.
Continued losses in the Ceramics cluster, and the three new retail stores in
Gauteng and the North West Province, opened in December 2009, which are not yet
contributing to the bottom line, were the key drivers behind the decline in
profit before tax, and hence, earnings.
In a challenging trading environment, the group turnover declined by
approximately 3% whilst gross margins improved marginally. Working capital was
well managed resulting in strong cash flow generation for the period.
Comparable year-on-year expenses (excluding the new stores and the DOH
acquisition) were reduced, whilst total expenses (inclusive of new store
expansion), increased by less than inflation.
The financial information on which this trading statement is based has not been
reviewed by the company`s auditors. The company`s interim results will be
released on or about 24 August 2010.
22 July 2010
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 22/07/2010 17:30:01 Produced by the JSE SENS Department.
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