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WIL
WIL
WIL - Wilderness Holdings Limited - Trading Statement
Wilderness Holdings Limited
(Incorporated in Botswana on 23 February 2004)
(Registration number 2004/2986)
(Registered as an external company in South Africa on 27 November 2009)
(Registration number 2009/022894/10)
ISIN: BW0000000868
Share code: WIL
("Wilderness" or "the Company" or "the Group")
TRADING STATEMENT
The Board of Wilderness Holdings hereby announces that the Group`s interim
results for the six month period ended 31 August 2010 are likely to be lower
than those achieved in the six months ended on 31 August 2009.
Turnover and gross margins have been maintained at levels in line with those
previously achieved. However, fixed costs have increased in line with
expectations and adverse movements in exchange rates relative to our reporting
currency (Pula). The group has earned capital profits on a number of
transactions and accordingly operating profits are also in line with those
achieved in the previous year. The substantial unrealised foreign exchange
gains reported in the comparable period on foreign-denominated loans have not
repeated in the current year. The result is that profits before and after tax
will be below those reported for the comparable period in the prior year.
The profits earned to date, as well as the capital profits referred to above,
have aided cash generation to the point where group cash reserves have been
increased significantly in the six months under review.
Full details of these and other matters will be given in the interim
announcement of results, due to be released on 2 November 2010.
In this context, shareholders and investors are reminded of the sale of North
Island Company Limited, which event occurred subsequent to the end of the six
month period, details of which are given in a circular issued today. As is
explained in the circular, the Wilderness group`s share of the profit resulting
from that disposal was in the region of P70 million and this outcome will have a
favourable impact on earnings for the full year, as well as adding to existing
cash reserves and the strength of the balance sheet.
In view of these matters, shareholders and investors are advised to continue to
exercise caution when trading in the Company`s securities until such time as a
detailed announcement is made.
Botswana
28 October 2010
Sponsoring broker
Capital Securities (A member of the Botswana Stock Exchange)
JSE sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 28/10/2010 15:01:02 Produced by the JSE SENS Department.
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