BIO - BioScience Brands Limited - Trading statement
BIO
BIO
BIO - BioScience Brands Limited - Trading statement
BioScience Brands Limited
Registration number 2005/005805/07
Incorporated in the Republic of South Africa
Share code: BIO
ISIN code: ZAE000115036
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited ("the JSE"), listed
companies are required to publish a trading statement as soon as they become
reasonably certain that the financial results for the next period to be reported
on will be more than 20% different from those of the previous corresponding
period or from a profit forecast previously provided to the market in relation
to such period.
The loss per share and headline loss per share for the year ended 30 June 2011
are expected to increase by more than 20% compared to the loss per share and
headline loss per share of 0.26 cents as reported for the previous financial
year.
Whilst BioScience Brands Limited ("BioScience") has affected the relocation of
its head-office and began outsourcing the daily operations to Akacia Healthcare
(Pty) Ltd ("Akacia") in Isando from 1 April 2011, the reduction in overhead
costs has only fully impacted since 1 May 2011. During the last financial year,
BioScience has continued to trade in a tough consumer environment where the
discretionary spend on complementary health and nutritional products remains
depressed. In addition and as announced previously, the financial results for
the year includes the impairment of the Phyto Nova brand of R6.5m.
The financial information on which this trading statement is based has not been
reviewed or reported on by the Group`s external auditors.
The publication of the results is expected on or about 16 September 2011.
Johannesburg
13 July 2011
Designated Advisor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
Date: 13/07/2011 17:00:01 Produced by the JSE SENS Department.
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