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UBU
UBU
UBU - Ububele Holdings Limited - Trading Statement
Ububele Holdings Limited
Incorporated in the Republic of South Africa
(Registration number: 1998/011074/06)
Share code: UBU
ISIN Code: ZAE000144739
("Ububele" or "the Company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a listed company is
required to publish a trading statement as soon as it becomes aware that the
financial results for the next period to be reported on will show a 20% or more
difference from those of the previous corresponding period.
Our agriculture division operates in a highly cyclical environment and
experience has shown that these cycles have a habit of shifting. In major parts
of South Africa such a shift was experienced at the beginning of the current
summer mainly in the summer rainfall areas. The first six months in the
agricultural sector was characterised by the late start of the rainy season,
particularly in the western areas of South Africa, where some areas received
their first rainfall as late as early December. However, since mid-December and
particularly in January, heavy rains fell in the greater South Africa,
particularly in the central and eastern parts of the country, which includes the
maize triangle. This resulted in sales in the agriculture division occurring
later than historically experienced. The effects of the change in sales period
will be felt and accounted for in the second six month period. Total sales in
the agricultural division to the end of January 2011, increased substantially
compared to the previous corresponding period.
Ububele hereby advises that a reasonable degree of certainty exists that, for
the six months ended 31 December 2010:
* headline earnings will be between 3.89 cents and 5.8 cents per share
or between 39% to 59% lower than that for the six months ended 31
December 2009; and
* attributable earnings will be between 5.46 cents and 7.39 cents per
share or between 23% to 43% lower than that for the six months ended
31 December 2009.
This financial information has not been reviewed or reported on by the auditors
of Ububele. The results for the six months ended 31 December 2010 will be
published on or about 4 March 2011.
25 February 2011
Designated Adviser
PSG Capital (Pty) Limited
Date: 25/02/2011 14:47:00 Produced by the JSE SENS Department.
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