ADI
ADI
ADI - Adaptit Holdings Limited - Trading Update
ADAPTIT HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/017276/06)
Share code: ADI ISIN: ZAE000113163
("AdaptIT" or "the Company")
TRADING UPDATE
In terms of the Listings Requirements of JSE Limited, companies are required
to publish a trading statement as soon as they become reasonably certain that
the financial results for the period to be reported on will differ by more
than 20% from that of the previous corresponding period.
Accordingly, a review of the financial results for the six month period ended
31 December 2010 by management has indicated that the earnings per share is
expected to be between 2.96 and 3.90 cents and the headline earnings per
share is expected to be between 3.21 and 3.91 cents, compared to the earnings
per share of 4.73 cents and the headline earnings per share of 3.50 cents for
the six month period ended 31 August 2009.
The interim earnings per share for the current period, was lower than that of
the six month period ended 31 August 2009, mainly due to the impact the
change in year-end had on the timing of the recognition of revenue, as well
as the non-recurring costs relating to the acquisition of the non-controlling
interests of ITS Holdings (Proprietary) Limited and ApplyIT (Proprietary)
Limited. The impact on earnings from the acquisition of the non-controlling
interests will only be reflected in results going forward.
The financial information on which this trading statement is based has not
been reviewed or reported on by the company`s auditors. AdaptIT`s interim
financial results are expected to be released on SENS on or about 16 February
2011.
Durban
9 February 2011
Sponsor
Merchantec Capital
Date: 09/02/2011 17:34:01 Produced by the JSE SENS Department.
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