ADW - African Dawn Capital Limited - Trading Statement
ADW
ADW
ADW - African Dawn Capital Limited - Trading Statement
AFRICAN DAWN CAPITAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/020520/06)
JSE code: ADW
ISIN: ZAE000060703
("Afdawn" or "the company")
TRADING STATEMENT
In compliance with paragraph 3.4 of the Listings Requirements of the JSE
Limited, a listed company is 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 next period to be reported on are likely to vary by
more than 20% from the previous corresponding period.
Afdawn wishes to advise shareholders that the company expects a turnaround in
the loss per share ("LPS") and headline loss per share ("HLPS") resulting in a
earnings per share ("EPS") and headlines earnings per share ("HEPS") for the
period ended 28 February 2011 of more than 20% compared to the LPS and HLPS
reported on in the prior comparative period (28 February 2010). The company
expects an EPS of between 1.45 and 1.70 cents and HEPS of between 0.95 and 1.10
cents which translates into a change of 101.1% to the LPS and decrease of 100.7%
in HLPS reported on in the previous corresponding period. The turnaround
resulting in earnings per share is mainly due to intensive cost cutting,
renegotiations of debtors repayment terms, aggressive collection of debtors,
sale of properties, sale of a subsidiary and an increase of security value, that
positively impacted the provisions for bad debts.
The audited results for the period ended 28 February 2011 will be released on
SENS during the last week of May 2011. The information in this trading statement
has not been reviewed or reported on by Afawn`s auditors Grant Thornton.
Johannesburg
17 May 2011
Designated Advisor
Sasfin Capital
A division of Sasfin Bank Limited
Date: 17/05/2011 15:30:03 Produced by the JSE SENS Department.
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