| Mon 18 Oct 2010, 16:04 | | ERB - Erbacon Investment Holdings Limited - Further trading statement |
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ERB
ERB
ERB - Erbacon Investment Holdings Limited - Further trading statement
ERBACON INVESTMENT HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2007/014490/06)
("Erbacon" or "the Company" or "the Group")
Share Code: ERB ISIN: ZAE000111571
FURTHER 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 reasonably certain
that the financial results for the next period to be reported on will show a 20%
or more difference from those of the previous corresponding period.
In terms of the trading statement published on SENS on 6 August 2010,
shareholders were advised that basic earnings and headline earnings per share
for the six months ended 31 August 2010 would be at least 65% lower than the
prior corresponding period.
Further to the aforementioned trading statement, the board has established
reasonable certainty that, due to a lack of momentum on government`s budgeted
infrastructure spend programme, construction delays in the mobilization of
certain key contracts, operational losses in Erbacon Small Plant and Erbacon
Roads and Earthworks, the Group will report a basic loss per share of between
8,52 cents per share and 10,41 cents per share, and a headline loss per share
of between 7,47 cents per share and 9,14 cents per share, respectively for the
six month period ended 31 August 2010 compared to basic and headline earnings
per share of 23.24 cents per share and 22.87 cents per share respectively for
the prior corresponding period.
Although it is uncertain as to when government`s planned infrastructure spend
will gain momentum, management is positive that the financial results of the
Group for the second half of the financial year will reflect an improvement on
the financial results for the six months ended 31 August 2010.
The information in this trading statement has not been reviewed or reported on
by the Company`s auditors.
The results for the six months ended 31 August 2010 will be announced in due
course.
18 October 2010
Designated adviser:
PSG Capital (Pty) Limited
Date: 18/10/2010 16:04:01 Produced by the JSE SENS Department.
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