| Mon 6 Sep 2010, 9:29 | | DAW - DAWN - Trading Statement and cautionary announcement |
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DAW
DAW
DAW - DAWN - Trading Statement and cautionary announcement
Distribution and Warehousing Network Limited
(Incorporated in the Republic of South Africa)
(Registration number 1984/008265/06)
Share code: DAW & ISIN code: ZAE000018834
("Dawn" or "the Group" or "the Company")
Trading Statement and cautionary announcement
In accordance with paragraph 3.4 (b) of the Listings Requirements of the JSE
Limited, companies are required to publish a trading statement as soon as
they are reasonably certain that the financial results for the current
reporting period will be more than 20% different than that of the previous
corresponding period.
Dawn shareholders are advised that, for the year ended 30th June 2010, the
Group expects:
- Headline earnings per share ("HEPS") to be between 35%-45% lower (53
cents per share to 45 cents per share); and
- Earnings per share ("EPS") to be between 10%-20% lower (57 cents per
share to 51 cents per share)
than the HEPS of 81,7 cents per share and the EPS of 63,9 cents per share
published for the previous corresponding period. The R300m rights issue
(42,67 million shares), effective 15 December 2009, has increased the
average weighted number of shares on which the above calculations are based.
A sound performance from most of the Group`s businesses was masked by the
disappointing performance of the businesses focused on infrastructure-
related spend, particularly DPI Plastics, Incledon Engineering and Sangio
Pipes.
The financial information on which this trading statement is based has not
been reviewed or reported on by Dawn`s auditors. The Group`s results will be
released on SENS on or about 13 September 2010.
CAUTIONARY ANNOUNCEMENT
Dawn also wishes to inform shareholders that it has entered into
negotiations which, if successfully concluded, may have a material effect on
the price of its shares.
Accordingly, shareholders are advised to exercise caution when dealing in
the Company`s securities until a full announcement is made.
Johannesburg
6 September 2010
Sponsor
Deloitte & Touche Sponsor Services (Proprietary) Limited
Date: 06/09/2010 09:29:30 Produced by the JSE SENS Department.
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