ILA
ILA
ILA - Iliad Limited - Trading statement
Iliad Limited
Incorporated in the Republic of South Africa
(Registration number 1997/011938/06)
Share Code: ILA ISIN: ZAE000015038
("Iliad" or "the Company")
TRADING STATEMENT
In accordance with paragraph 3.4(b) of the listings requirements of the
JSE Limited, shareholders are advised that Iliad`s results for the six
months ended 30 June 2011 will reflect a loss per share (LPS) of between
210 to 215 cents per share for the period, compared to earnings of 15.1
cents per share in 2010. This includes an impairment of intangible
assets of R249.5 million, mainly relating to the Campwell Hardware and
Thorpe Timber businesses.
The headline loss per share (HLPS) for the period will be between 30 and
35 cents per share, compared to headline earnings of 14.8 cents per
share in 2010. This includes once-off portfolio adjustment costs of
R67.9 million relating to the rationalisation of 9 underperforming
stores, as well as the decision to sell the Q-Lite Lighting and SDT
Wholesale Hinges businesses. These portfolio adjustments are excepted to
contribute approximately 0.8% towards a recovery in the operating
margin.
Excluding the once-off portfolio adjustment and impairment costs, profit
before interest and tax is expected to be between 65% and 70% lower than
that reported for the prior comparative period. In a challenging trading
environment, Group turnover increased by approximately 4.6% to R1,978
billion, which was negated by an increase in total expenses of 7.1%.
The financial information on which this trading statement is based has
not been reviewed by the company`s auditors. The Company`s interim
results will be released on or about 23 August 2011.
Johannesburg
12th August 2011
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 12/08/2011 15:00:04 Produced by the JSE SENS Department.
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