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DGC
DGC
DGC - DigiCore - Trading statement
DIGICORE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/012601/06)
Share Code: DGC
ISIN Number: ZAE000016945
("DigiCore" or "the Company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a listed company is
required to publish a trading statement as soon as it becomes apparent that
headline earnings per share and/or earnings per share for the period to be
reported on next are expected, with a reasonable degree of certainty, to differ
by at least twenty per cent (20%) from those of the previous corresponding
period.
Shareholders are advised that DigiCore`s headlines earnings per share and
earnings per share for the year ended 30 June 2010, are expected to decrease by
between thirty five percent (35%) and forty per cent (40%), compared with the
headline earnings per share of 35.9 cents per share and earnings per share of
36.1 cents per share, for the comparative period in 2009.
The Group continues to suffer from the recent economic recession and whilst
signs of improved conditions have been seen, it has been marginal.
As reported previously, the impact of operating leverage is significant and
during the period under review the 7.9% decline in revenue alone had an adverse
impact of 29% on operating profit.
Whilst slow, we have seen a marginal improvement in the South African operations
with revenue for the second half of 2010 increasing by 14% over the first half
of the 2010 financial year. Trading conditions in the international markets
remained tough where full year revenues in 2010 declined by 30% compared to
2009.
Taking cognizance of our balanced approach between short term returns for our
shareholders and retaining skilled employees, we believe the Group is well
positioned to capitalize on any upturn.
The financial results on which this trading statement has been based and the
commentary in this announcement has not been reviewed or reported on by the
company`s auditors.
DigiCore`s results for the year ended 30 June 2010 will be released on SENS on
or about 21 September 2010.
Pretoria
14 September 2010
Sponsor
PSG Capital (Pty) Limted
Date: 14/09/2010 17:20:43 Produced by the JSE SENS Department.
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