| Tue 28 Sep 2010, 11:07 | | TFX - Top Fix Holdings Limited - Updated Trading Statement |
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TFX
TFX
TFX - Top Fix Holdings Limited - Updated Trading Statement
Top Fix Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2006/011359/06)
Share code: TFX
ISIN code: ZAE000088423
("Top Fix" or "the Company")
UPDATED TRADING STATEMENT
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 are
satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported on next will differ by at least 20% from
the financial results for the previous corresponding period.
Furthermore, in terms of paragraph 3.4(b)(iv) of the Listings Requirements of
the JSE Limited, if after publication of a trading statement but before
publication of the relevant periodic financial results, a company becomes
reasonably certain that their previously published number in the trading
statement is no longer accurate, the company must publish another trading
statement in accordance with paragraph 3.4(b).
Further to the SENS announcement published on 3 September 2010, shareholders are
herby advised that Top Fix is currently finalising its results for the year
ended 30 June 2010. Accordingly, a review of the financial results for the year
ended 30 June 2010, has indicated that earnings per share ("EPS") and headline
earnings per share ("HEPS") are expected to be 269% and 72% lower respectively,
than the EPS and HEPS for the previous corresponding period. The decrease in
both EPS and HEPS is mainly due to a R15,7 million decrease in the after tax
earnings of the Scaffolding division (including an increase of R2,5 million in
the division`s bad debt provision) amounting to 7.7 cents per share. EPS is
expected to be a loss of 18.6 cents per share and HEPS is expected to be a
profit of 3.1 cents per share. An impairment of goodwill of R44 million,
amounting to a loss of 21.7 cents per share, has been excluded from the
calculation of HEPS.
The provisional results for the year ended 30 June 2010 are expected to be
released on SENS on or about 30 September 2010.
Midrand
28 September 2010
Designated advisor
QuestCo Sponsors (Pty) Limited
Corporate advisor
PSG Capital (Pty) Limited
Date: 28/09/2010 11:07:45 Produced by the JSE SENS Department.
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