|
BFS
BFS
BFS - Blue Financial Services Limited - Trading update
Blue Financial Services Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1996/006595/06)
JSE Share code: BFS
ISIN: ZAE000083655
("Blue" or the "Company")
TRADING UPDATE
In accordance 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
it is 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.
Blue wishes to advise shareholders that the company expects a decrease in the
loss per share ("LPS") and the headline loss per share ("HLPS") for the year
ended 28 February 2011, of more than 90% compared to the LPS and HLPS reported
in the prior comparative period.
The main reasons for the reductions in the loss per share are:-
- cost savings generated as a result of right-sizing the organization;
- increase in lending activities;
- credit impairments reduced through improvements in collection processes;
- improvements in operational efficiencies and business sophistication; and
- increase in the number of shares in issue due to the recapitalisation of
the Group and subsequent debt: equity conversion. The current issued shares
are 5.8 billion (August 2010: 624 million).
The restructuring embarked upon by the Company during the past financial year
and the impact of the Mayibuye turnaround strategy, have contributed to the
expected improvement in financial results.
These actions provide a sound platform for growth and returning the group to
profitability in the future.
Once the Company has obtained a reasonable degree of certainty on the
performance and the actual range of change in LPS and HLPS, a further trading
statement will be released.
The information in this trading update has not been reviewed or reported on by
Blue`s independent auditors.
Pretoria
28 June 2011
Designated Adviser
Grindrod Bank Limited
Date: 28/06/2011 12:00:02 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
