| Wed 6 Apr 2011, 10:35 | | ZED - Zeder Investments Limited - Recurring headline earnings |
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ZED
ZED
ZED - Zeder Investments Limited - Recurring headline earnings
Zeder Investments Limited
Incorporated in the Republic of South Africa
Registration number: 2006/019240/06
JSE share code: ZED
ISIN number: ZAE000088431
("Zeder" or "the company")
RECURRING HEADLINE EARNINGS
Zeder continues to use the recurring headline earnings method to provide
management and investors with a more realistic and transparent way of
evaluating Zeder`s earnings performance. Recurring headline earnings
represent the sum of Zeder`s effective interest in that of each investee,
regardless of its percentage shareholding. The result is that investments in
which Zeder or an investee holds less than 20% and are generally not equity
accountable in terms of accounting standards, are included in the calculation
of our consolidated recurring headline earnings. Marked-to-market
fluctuations are excluded.
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 reasonably
certain 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.
Zeder hereby advises that a reasonable degree of certainty exists that, for
the year ended 28 February 2011:
- Recurring headline earnings per share will be between 26,0 cents and
28,0 cents, or between 10,2% and 18,6% higher than that for the year
ended 28 February 2010; and
- Headline earnings per share will be between 18,0 cents and 20,0 cents,
or between 4,0% and 15,6% higher than that for the year ended 28
February 2010; and
- Attributable earnings per share will be between 25,0 cents and 27,0
cents, or between 78,6% and 92,9% higher than that for the year ended
28 February 2010; and
- Net asset value per share will be between 257,0 cents and 259,0 cents,
or between 10,2% and 11,0% higher than at 28 February 2010.
The significant increase in attributable earnings per share is mainly as a
result of a non-headline profit made on the disposal of Zeder`s interest in
KWV Holdings Ltd, as disclosed to shareholders on 7 February 2011.
This financial information has not been reviewed or reported on by the
auditor of Zeder. The audited results for the year ended 28 February 2011
will be published on or about 11 April 2011.
Stellenbosch
6 April 2011
PSG Capital
Sponsor to Zeder
Date: 06/04/2011 10:35:01 Produced by the JSE SENS Department.
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