HWN - Howden Africa Holdings Limited - Trading update
HWN
HWN
HWN - Howden Africa Holdings Limited - Trading update
Howden Africa Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/002982/06)
Share code: HWN ISIN: ZAE000010583
("HAHL" or "the Company")
Trading update
In terms of the Listings Requirements of the 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 be more than 20%
different from that of the previous corresponding period.
Shareholders are advised that forecast earnings and headline earnings per share
from continuing operations are in the range of between 88.0 cents and 119.0
cents for the year to 31 December 2010, which compares with the earnings and
headline earnings per share of 152.48 cents and 152.50 cents respectively from
continuing operations for the year ended 31 December 2009.
The forecast earnings and headline earnings per share for the year ended 31
December 2010 were affected by tough trading conditions in the environmental
control markets, and an STC amount of R4.9 million in respect of the special
dividend of R49.3 million paid on 5 July 2010. The impact of the STC charge on
the special dividend was such that earnings and headline earnings per share from
continuing operations for the year ended 31 December 2010 would have ranged from
96.0 cents and 126.0 cents, respectively.
Excluding the aforementioned tax adjustments, the forecast earnings per share
would still be more than 20% different from that of the previous reporting
period.
The financial information on which this trading statement is based has not been
reviewed or reported on by HAHL`s auditors. The results for the year ended 31
December 2010 are expected to be published at the end of March 2011.
17 February 2011
Sponsor
PricewaterhouseCoopers Corporate Finance (Proprietary)
Limited (Registration number 1970/003711/07)
Date: 17/02/2011 17:00:01 Produced by the JSE SENS Department.
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