GDN
GDN
GDN - Gooderson - Trading Update
GOODERSON LEISURE CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1972/004241/06)
(JSE code: GDN ISIN: ZAE000084984)
("Gooderson" or "the company")
TRADING UPDATE
In terms of section 3.4(b) of the Listings Requirements of the JSE Limited
("JSE"), 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 will differ by at least 20% from the financial results
for the previous corresponding period.
Shareholders are advised that the company is in the process of finalising its
financial results for the year ended 28 February 2011 and advises that the
earnings and headline earnings per share for this period are expected to
decrease by between 58% and 68% compared to the previous corresponding period.
The decrease in profits results from inter alia a reduction in room occupancies
in all hotels and lodges due to the challenging trading conditions, a decline in
the company`s conference markets, due to lack of government spending, weaker
demand from international markets and a significant increase in refurbishment
and upgrade charges associated with the company`s investment in Sanrock Resort
and Conference Centre and Fabz Estate Hotel and Restaurant. The decline was
also due to substantial refurbishment and upgrade costs in preparation of the
FIFA 2010 World Cup Soccer tournament. This year was challenging with consumer
disposable income being negatively affected by various factors
The financial information on which this trading statement is based has not been
reviewed or reported on by the company`s auditors.
The results for the period ended 28 February 2011 are expected to be published
on SENS by the end of this month.
17 May 2011
Durban
Designated Advisor
Exchange Sponsors
Date: 17/05/2011 13:02:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
