AGI
AGI
AGI - AG Industries Limited - Trading Statement
AG INDUSTRIES LIMITED
(Incorporated in the Republic Of South Africa)
Registration Number: 1980/004051/06
Share Code: AGI
ISIN: ZAE000039467
("AGI" or "the Company" or "the Group")
Trading Statement
In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited
companies are required to publish a trading statement in the event that they
are satisfied that a reasonable degree of certainly exists that the earnings
per share and headline earnings per share results will differ from the
previous corresponding year-end by at least 20%.
Accordingly shareholders are advised that the headline loss per share for the
year ended 30 June 2010 is expected to be between 18 cents per share ("cps")
and 21 cps compared to 73 cps loss in the previous corresponding period and
the basic loss per share is expected to be between 17.5 cps and 20.5 cps
compared to the previous corresponding period`s loss of 146 cps. These
results include considerable restructuring costs. The above figures take into
account the weighted average number in the company`s issued share capital.
The financial information on which this trading statement is based has not
been reviewed or reported on by the Group`s auditors. AGI`s reviewed
financial results will be released on or about Monday, 27 September 2010.
The Group continues to trade under difficult market conditions affecting the
construction sector.
The restructuring program undertaken by the Group during the 2010 Financial
Year has been substantially implemented. This implementation was delayed due
to complex corporate activities and regulatory constraints that took place at
the same time.
The restructuring plan has resulted in a lower overhead cost base for the
business, the benefit of which should be enjoyed during the 2011 financial
year.
Johannesburg
12 August 2010
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 12/08/2010 17:20:01 Produced by the JSE SENS Department.
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