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CRM
CRM
CRM - Ceramic Industries - Trading statement for the financial year
ended 31 July 2010
CERAMIC INDUSTRIES LIMITED
Registration number 1982/008520/06)
(Incorporated in the Republic of South Africa)
Share code: CRM
ISIN: ZAE000008538
("Ceramic" or "the Group")
TRADING STATEMENT FOR THE FINANCIAL YEAR ENDED 31 JULY 2010
Ceramic is currently finalising its results for the year ended 31 July
2010.
In terms of section 3.4(b) of the Listings Requirements of JSE Limited,
companies are required to publish a trading statement as soon as a
reasonable degree of certainty exists that the financial results for
the period will differ by at least 20% from the financial results for
the previous corresponding period.
Accordingly, shareholders are advised that the Group`s operating profit
will be between 18% and 23% higher than the prior comparable reporting
period. This increase is attributable to a strong performance by
Ceramic`s tile factories, which benefited from enhanced operational
efficiencies.
Headline earnings per share ("HEPS") and basic earnings per share
("EPS") are expected to be between 108% and 113% higher than the prior
comparable period. This increase must however be viewed in the context
of the impact on HEPS and EPS in the previous corresponding period of a
once-off non-cash IFRS2 charge of R49.3 million relating to the share-
based payment cost of the Group`s Black Economic Empowerment
transaction.
Excluding the effect of this charge, the Group`s adjusted HEPS and EPS
for the year are anticipated to be between 35% and 40% higher than the
previous corresponding period.
REVIEW OF RESULTS
The information on which this announcement is based has not been
reviewed or reported on by Ceramic`s auditors.
PUBLICATION OF RESULTS
The Group`s results for the year ended 31 July 2010 are expected to be
published on SENS on or about 07 September 2010.
Johannesburg
25 August 2010
Sponsor
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 25/08/2010 14:27:01 Produced by the JSE SENS Department.
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