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PLD
PLD
PLD - Paladin Capital Limited - Trading statement for the year ended 28 February
2011
PALADIN CAPITAL LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2007/032836/06)
Share Code: PLD
ISIN Number: ZAE000138970
("Paladin" or "the Company")
TRADING STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2011
RECURRING HEADLINE EARNINGS
Paladin continues to use the recurring headline earnings method to provide
management and investors with a more realistic and transparent way of evaluating
Paladin`s earnings performance. Recurring headline earnings represent the sum of
Paladin`s effective interest in that of each investee, regardless of its
percentage shareholding. The result is that investments in which Paladin 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 3.4 (b) the JSE Limited Listings Requirements, 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.
Paladin hereby advises that a reasonable degree of certainty exists that, for
the year ended 28 February 2011:
* recurring headline earnings will be between 11.9 cents and 12.3 cents per
share or between 36.3% to 38.3% lower than that for the year ended 28
February 2010;
* headline earnings will be between 34.3 cents and 34.7 cents per share or
between 21.0% to 21.9% lower than that for the year ended 28 February 2010;
and
* attributable earnings will be between 61.1 cents and 61.5 cents per share
or between 68.3% to 69.4% higher than that for the year ended 28 February
2010.
* Recurring headline earnings per share was negatively affected by the weaker
performance of Paladin`s cyclical investments in the construction and
related services sectors. The impact on headline earnings was less severe
due to Paladin`s 49% share of Thembeka Capital Limited`s marked-to-market
profits.
The increase in attributable earnings per share was mainly as a result of the
profit realised on the sale of Paladin`s investment in CIC Holdings Limited.
This financial information has not been reviewed or reported on by the auditor
of Paladin. The results for the year ended 28 February 2011 will be published on
or about 13 April 2011.
Stellenbosch
12 April 2011
QuestCo Sponsors (Pty) Ltd
Designated advisor to Paladin
PSG Capital (Pty) Ltd
Corporate advisor to Paladin
Date: 12/04/2011 15:28:01 Produced by the JSE SENS Department.
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