| Mon 18 Oct 2010, 16:43 | | DLV - Dorbyl Limited - Further trading statement |
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DLV
DLV
DLV - Dorbyl Limited - Further trading statement
DORBYL LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 1911/001510/06)
Ordinary Share Code: DLV
ISIN: ZAE000002184
("Dorbyl")
FURTHER TRADING STATEMENT
In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE
Limited, companies are required to inform shareholders as soon as there is a
reasonable degree of certainty that the earnings of the company are likely to
vary by more than 20% compared to the previous corresponding period.
Further to the trading statement dated 10 September 2010, Dorbyl hereby advises
that, for the six months ended 30 September 2010, it is expected that headline
earnings per share will reflect a loss of between 5,9 cents per share and
earnings of 5,9 cents per share (compared to the headline loss per share of
107,0 cents for the previous comparative period) and in respect of basic
earnings per share, a loss of between 8,8 cents per share and earnings of 2,9
cents per share (compared to the loss per share of 83.3 cents for the previous
comparative period).
Dorbyl further advises that the Net Assets Value per share as at 30 September
2010 is expected to be between 478,4 and 490,2 cents per share (compared to the
Net Asset Value per share of 659.9 cents for the previous comparative period and
487,0 per share as at 31 March 2010). However, it should be noted, as was
stated in the Annual Report for the year ended 31 March 2010, due to the held
for sale rules in terms of IFRS5, the carrying value of the Benoni property at
31 March 2010 was 43 cents per share less than the valuation as determined by
the directors. The Net Asset value per share of 487,0 cents as at 31 March 2010
did therefore not include this additional 43 cents of perceived value.
Similarly, the expected Net Asset Value per share as at 30 September 2010 does
not include the aforementioned 43 cents.
The information in this trading statement has not been reviewed or reported on
by Dorbyl`s auditors.
Johannesburg
18 October 2010
Sponsor: PSG Capital (Proprietary) Limited
Date: 18/10/2010 16:43:01 Produced by the JSE SENS Department.
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