VLE
VLE
VLE - Value Group Limited - Trading update
Value Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1997/002203/06
Share code: VLE
ISIN code: ZAE000016507
("Value" or "the company")
TRADING UPDATE
In terms of the listings requirements of the JSE Limited, a listed company is
required to publish a trading update as soon as it becomes reasonably certain
that the financial results for the period to be reported on next will show a 20%
or more difference from the previous corresponding period.
In the company`s circular dated 1 July 2010, it was illustrated how the once off
BEE equity transaction costs would have a negative effect on earnings. These
costs were incurred during the company`s interim reporting period ended 31
August 2010. Notwithstanding these once-off costs, favourable trading
conditions in the second half of the 2011 financial year contributed to an
increase in earnings. Accordingly shareholders are advised that headline and
basic earnings per share for the year ended 28 February 2011 will be up to 20%
higher than that achieved in the previous corresponding period.
Excluding the once-off costs associated with the BEE equity transaction,
headline and basic earnings per share for the year ended 28 February 2011 will
be 15% to 35% higher than that achieved in the previous corresponding year.
The financial results, on which this trading update has been based, have not
been reviewed nor reported on by Value`s auditors. The results for the year
ended 28 February 2011 will be published on or about 10 May 2011.
Johannesburg
Sponsor: Investec Limited
28 April 2011
Date: 28/04/2011 16:41:01 Produced by the JSE SENS Department.
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