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CSP
CSP
CSP - Chemical Specialities Limited - Trading statement and restatement of
previous interim results
Chemical Specialities Limited
Incorporated in the Republic of South Africa
Registration number 2005/039947/06
Share code: CSP
ISIN: ZAE000109427
("Chemspec" or "the Company")
TRADING STATEMENT AND RESTATEMENT OF PREVIOUS INTERIM RESULTS
In terms of paragraph 3.4 (b) of the JSE Limited Listings Requirements,
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 next will differ by at least 20% from
the financial results for the previous corresponding period.
Attention is drawn to the fact that the interim results for the previous
corresponding period (6 months ended 30 September 2009) have been restated. The
earnings per share ("EPS") previously reported was 7.45 cents and was restated
to a loss per share ("LPS") of 3.91 cents. The reason for this is that insurance
claims, which were recognised as other income in the 2009 interim period, were
de-recognised in the financial results for the year ended 31 March 2010. A
detailed reconciliation between the original 2009 interim results and the
restated 2009 interim results will be included in the 2010 interim financial
results announcement.
Shareholders are hereby advised that Chemspec is currently finalising its
interim results for the period ended 30 September 2010. It is expected that the
LPS for the six month period ended 30 September 2010 will be between 12.01 and
14.04 cents compared to the restated comparative period LPS of 3.91 cents
(original EPS was 7.45 cents). The headline loss per share ("HLPS") for the
period is expected to be between 12.12 and 14.04 cents compared to the restated
comparative period HLPS of 3.90 cents (original headline earnings per share was
7.44).
This trading statement has not been reviewed or reported on the Group`s external
auditors.
The interim financial results are expected to be released on or before 31
December 2010.
Verulam
15 December 2010
Designated Advisor: QuestCo Sponsors (Pty) Limited
Date: 15/12/2010 16:08:01 Produced by the JSE SENS Department.
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