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YRK
YRK
YRK - York Timber Holdings Limited - Trading Statement
York Timber Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
("York" or "the Group")
TRADING STATEMENT
York is in the process of completing its results for the year ended 30 June 2010
for release on or about 30 September 2010.
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited,
companies are required to publish a trading statement as soon as they become
reasonably certain that the financial results for the period to be reported on
next will differ by at least 20% to those of the previous corresponding period.
Accordingly, York advises shareholders that:
* Headline earnings per share ("HEPS") for the year ended 30 June 2010
are expected to be between 112% and 120% higher than those reported in
the comparative period. HEPS of between 30 cents and 50 cents are
expected (2009: Loss of 254 cents).
* Earnings per share ("EPS") for the year ended 30 June 2010 are
expected to be between 107% and 114% higher than those reported in the
comparative period. EPS from continuing operations of between 20 cents
and 40 cents are expected (2009: Loss of 296 cents).
Despite the difficult economic environment, York successfully implemented its
restructuring plans and right-sizing strategy resulting in an improvement in
processing efficiencies and the optimisation of its raw material base. This led
to an improved performance in the second half of the 2010 financial year.
Furthermore, the Group adopted the discounted cash flow method, widely used in
the Forestry, Paper and Pulp industry, to calculate the fair value of its
biological asset. This resulted in an increase in the value of the asset of
approximately 10.5% over the comparative value of the asset in the previous
corresponding period.
Shareholders are advised that the information included in this announcement has
not been reviewed or reported on by the Group`s auditors.
Sabie, Mpumalanga
15 September 2010
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
About the company
York has the largest market share of the South African lumber and plywood market
resulting from its sustainble biological asset integrated with primary and value
adding processes through the entire value chain. York operates in various trade
sectors and markets, both domestic and overseas.
Date: 15/09/2010 14:41:01 Produced by the JSE SENS Department.
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