FWD
FWD
FWD - Freeworld Coatings - Trading Statement
FREEWORLD COATINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2007/021624/06)
ISIN: ZAE000109450
Share code: FWD
("Freeworld Coatings" or "the Group")
TRADING STATEMENT
With respect to the six months ended 31 March 2011, Freeworld Coatings has
continued to perform competitively in the context of tough economic and industry
conditions with EDITDA (excluding the items below) expected to be between 5% and
10% lower than that reported for the six months ended 31 March 2010
("comparative period").
Earnings per share and headline earnings per share are however, expected to be
between 50% and 60% lower than that reported for the comparative period due to:-
- costs occasioned by the Kansai transaction of R20m; and
- an IFRS 2 charge of R19m after tax on the second allocation of the Share
Appreciation Rights referred to in the Annual Report, approved in September 2008
and issued in February 2011.
Freeworld Coatings will release its interim results for the six months ended 31
March 2011 on SENS on or about 24 June 2011.
Shareholders are advised that the information provided in this trading statement
has not been reviewed and reported on by the Group`s external auditors.
Eleanor Chamberlain
Company Secretary
Paulshof
26 May 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 26/05/2011 17:50:01 Produced by the JSE SENS Department.
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