WTL - William Tell Holdings Limited - Trading Statement
WTL
WTL
WTL - William Tell Holdings Limited - Trading Statement
WILLIAM TELL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 2004/030045/06)
Share Code: WTL ISIN: ZAE000098133
("the Company")
TRADING STATEMENT
In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE
Limited, companies are required to inform shareholders as soon as there is a
reasonable degree of certainty that the earnings of the company are likely to
vary by more than 20% compared to the previous corresponding period.
The Board of Directors therefore wishes to advise shareholders that the Company
expects to report a basic loss per share attributable to ordinary shareholders
for the year ended 30 June 2010 of between 16.11 cents and 16.99 cents after
factory relocation cost, and between 11.45 cents and 12.33 cents before
relocation cost compared to basic earnings per share of 4.4 cents for the
previous comparable period.
The decrease in basic earnings is influenced by a once off impairment of R34.7m
on the Booysens chipboard plant. This chipboard plant was impaired to market
value as at 30 June 2010.
A headline loss per share attributable to ordinary shareholders for the year
ended 30 June 2010 has been incurred and is expected to be between 1.98 cents
and 3.00 cents. If the impact of the factory relocation costs were to be
excluded, the Company would have achieved headline earnings per share of between
1.66 cents and 2.68 cents compared to headline earnings per share of 5.1 cents
for the previous comparable period.
The relocation costs incurred relates to the Company`s consolidation of
manufacturing operations at the Chamdor site, which relocation has been
completed during the 30 June 2010 financial year.
The financial information included in this trading statement has not been
reviewed and reported on by the Company`s external auditors.
The results for the year ended 30 June 2010 will be released on SENS on or about
16 September 2010.
Johannesburg
1 September 2010
Designated Advisor: PSG Capital (Proprietary) Limited
Date: 01/09/2010 13:40:01 Produced by the JSE SENS Department.
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