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BNT
BNT
BNT - Bonatla Property Holdings - Further trading statement for the year ended
31 December 2010
BONATLA PROPERTY HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration Number 1996/014533/06
Share Code: BNT
ISIN Number: ZAE000013694
("Bonatla" or "the company")
FURTHER TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2010
In terms of paragraph 3.4(b)(i) of the Listings Requirements of the JSE
Limited, listed companies are required to publish a trading statement as soon
as they become reasonably certain that the financial results for the next
period to be reported on will be more than 20% different from those of the
previous corresponding period or from a profit forecast previously provided to
the market in relation to such period.
The board would like to advise shareholders that compared to the previous
year:
Headline earnings per share is expected to improve from a headline loss per
share to headline earnings per share when compared to the previous year, with
an anticipated improvement from a loss of 0.7 cents per share to a profit of
between 1.75 and 1.95 cents per share.
Earnings per share is expected to decline from a loss of 0.7 cents per share
to a loss of between 1.3 and 1.5 cents per share.
The net asset value and net tangible asset value of the company is expected to
increase by between 55% and 65% for the comparable period.
In addition to the above, the board would like to advise shareholders that
Bonatla published a profit forecast for the year ending 31 December 2010 in a
circular to shareholders dated 11 April 2009, wherein both earnings and
headline earnings per share were anticipated to be 2.07 cents per share.
Accordingly, shareholders are advised that headline earnings are expected to
be between 6% and 16% lower than the profit forecast and the earnings per
share is expected to be between 163% and 173% lower than the profit forecast.
The lower earnings per share is primarily due to once off impairments related
to new acquisitions during the second half of the year, which will be detailed
in the forthcoming results announcement.
The financial information on which this trading statement is based has not
been reviewed by the company`s auditors.
Houghton
18 March 2011
Sponsor
Arcay Moela Sponsors (Proprietary) Limited
Date: 18/03/2011 12:10:06 Produced by the JSE SENS Department.
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