ILA
ILA
ILA - Iliad Africa Limited - Trading Statement
Iliad Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/011938/06)
Share code: ILA & ISIN: ZAE000015038
("Iliad" or "the Company")
TRADING STATEMENT
In accordance with paragraph 3.4 (b) of the Listings Requirements of the JSE
Limited, shareholders are advised that consistent with the Company`s trading
update for the six months ended 30 June 2010 the Company`s results for the year
ended 31 December 2010, being earnings and headline earnings per share, are
expected to be between 26% and 29% lower than the reported earnings and headline
earnings per share for the prior comparative period.
Profit before tax is expected to be between 32% and 34% lower than the reported
operating profit for the prior comparative period.
Continued losses in the Ceramics cluster and certain new retail stores, which
are not yet contributing to the bottom line, remain the key drivers behind the
decline in profit before tax, and hence, earnings.
In a challenging trading environment, the group turnover and gross margins
marginally improved. Working capital was well managed resulting in strong cash
flow generation for the period.
Comparable year-on-year expenses (excluding the new stores and the DOH
acquisition) were reduced, whilst the increase in total expenses (inclusive of
new store expansion), approximates inflation.
The financial information on which this trading statement is based has not been
reviewed by the Company`s auditors. The Company`s results will be released on or
about 15 March 2011.
28 February 2011
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 28/02/2011 17:05:02 Produced by the JSE SENS Department.
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