WBO - Wilson Bayly Holmes Ovcon Ltd - Trading statement
WBO
WBO
WBO - Wilson Bayly Holmes Ovcon Ltd - Trading statement
Wilson Bayly Holmes Ovcon Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1982/011014/06)
Share code:WBO ISIN: ZAE000009932
Trading statement
The directors advise that the unaudited consolidated results for Wilson Bayly
Holmes-Ovcon Limited for the six months ended 31 December 2010 will show a 15%
to 20% decline in headline earnings and a 10% to 15% decline in earnings per
share.
The reduction in earnings is primarily due to the poor trading results from
Capital Africa Steel (Pty) Limited and having taken cognisance of the
unfavourable outlook for the steel and ready mix industries a further impairment
of the group`s investment was considered necessary by management. This
impairment affects loan funding and has been included in headline earnings.
The group`s operating income before non-trading items is expected to remain
constant compared to the six months ended 31 December 2009.
The forecast has not been reviewed or reported on by the company`s auditors.
The release of the interim announcement of results for the six months ended 31
December 2010 is expected to be published on Tuesday, 22 February 2011.
By order of the board
Johannesburg
15 February 2011
Sponsor:
Investec Bank Limited
Date: 15/02/2011 09:54:28 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
