VMK
VMK
VMK - Verimark Holdings Limited - Trading update
VERIMARK HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1998/006957/06)
JSE Code: VMK ISIN: ZAE000068011
("Verimark" or "the Company")
TRADING UPDATE
In terms paragraph 3.4(b) of the Listings Requirements of the JSE Limited,
Verimark is pleased to announce that its headline earnings per share and basic
earnings per share for the six months ended 31 August 2010 are expected to be
between 8,2 cents and 10,0 cents, compared to a headline loss per share and a
basic loss per share of 10.1 cents, for the previous comparable period.
The complete turnaround in the Group`s results is due to the continuance of the
positive trend in trading and profitability reported for the final six months of
the previous financial year.
This excellent performance is a result of improved operational efficiencies and
the re-ignition of Verimark`s entrepreneurial spirit, brought about by a
complete change in top management over the previous three year period.
The main reasons for the significant improvement in sales and profitability are:
* the continued introduction of new innovative products;
* significant investment in television, print advertising and other
promotional activities;
* the continued improvement in prominence and space utilisation within our
retail partners stores;
* the growth in the company`s own Verimark Direct stores; and
* cost and margin control
The unaudited interim results for the six months ended 31 August 2010 will be
released on or about Tuesday 19 October 2010.
The financial information on which this trading update is based has not been
reviewed or reported on by the Company`s auditors.
Randburg
14 October 2010
Sponsor: Grindrod Bank Limited
Date: 14/10/2010 14:03:01 Produced by the JSE SENS Department.
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