ASO
ASO
ASO - Austro Group Limited - Trading Update
Austro Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 2001/029771/06)
Share code: ASO ISIN: ZAE000090882
("Austro")
TRADING UPDATE
In terms of the Listings Requirements of the JSE Limited, companies are
required to publish a trading statement as soon as they are satisfied that a
reasonable degree of certainty exists that the financial results for the
period to be reported upon next will differ by at least 20% from the previous
corresponding period.
Shareholders are referred to the trading update released on SENS on 29 March
2011 and are advised that there is now a reasonable degree of certainty that
the headline earnings per share and earnings per share for the six months
ended 28 February 2011 will be between 55% to 65% lower than the headline
earnings per share and earnings per share for the six months ended 28
February 2010.
Some of the major negative variances affecting this comparison include the
introduction of rent straight-lining in respect of some of the Group`s leased
buildings, incremental rental costs as a result of the occupation of new
buildings, an inventory write-off and provision for a significant potential
bad debt. The items specified amount in aggregate to R16.4m before tax. The
major positive variances softening the negative variances mentioned relate to
net interest and taxation.
The information on which this trading statement has been based has not yet
been reviewed or reported on by the company`s auditors.
11 May 2011
Sponsor
Java Capital
Date: 11/05/2011 16:21:01 Produced by the JSE SENS Department.
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