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GDN - Gooderson Leisure Corporation Limited - Trading statement
Gooderson Leisure Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1972/004241/06)
JSE Share code: GDN ISIN: ZAE000084984
("Gooderson")
TRADING STATEMENT
In terms 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 will differ by 20% or more from the financial results for the
previous corresponding period.
Shareholders are advised that Gooderson is currently finalising its interim
results for the period ended 31 August 2010. Gooderson`s earnings per share and
headline earnings per share for this period are both expected to decrease by
between 80% and 95% over that of the previous corresponding period. The
financial information on which this trading statement is based has not been
reviewed or reported on by Gooderson`s auditors.
The expected decrease in earnings is mainly attributable to the negative impact
of the recession on the tourism industry and disappointing hotel occupancies
during the FIFA Soccer World Cup. The revenues and profitability of Gooderson`s
two Durban Hotels were considerably down compared to the same period last year
due to limited spend by government and corporate on conferences and a decline in
local and international tourism.
Management expects the second half of the year to be more profitable. With its
portfolio of refurbished and upgraded properties, Gooderson is well positioned
to capitalize on improvements in the economy as they arise.
The results for the period ended 31 August 2010 are expected to be published on
SENS by the end of October 2010.
22 October 2010
Johannesburg
Designated Advisor
Exchange Sponsors
Date: 22/10/2010 07:05:10 Produced by the JSE SENS Department.
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