| Wed 17 Aug 2011, 16:01 | | ASR - Assore Limited - Trading statement |
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ASR
ASR
ASR - Assore Limited - Trading statement
Assore Limited
(Incorporated in the Republic of South Africa)
Registration number: 1950/037394/06
Share code: ASR
ISIN: ZAE000146932
("Assore" or "Group")
TRADING STATEMENT
Shareholders are advised that trading conditions for the financial year
ended 30 June 2011 improved significantly compared to those experienced
during the previous financial year, which was severely impacted by the
world economic turmoil that commenced in the last quarter of 2008. Demand
for all
Group products was stronger, and prices for iron ore throughout the year
were substantially higher. The impact of these higher prices was partly
offset by the strong level of the Rand, particularly in the second half.
As a result, earnings for the current financial year are anticipated to
increase to between R3 050 million and R3 350 million, compared to R1 480
million recorded in the previous financial year. Both attributable and
headline earnings per share for the year ended 30 June 2011 are
anticipated to be between R25,48 and R27,99 (year ended 30 June 2010:
attributable earnings of R12,36 per share, and headline earnings of
R12,48 per share). Earnings per share calculations are based on a
weighted average of 119,67 (year ended 30 June 2010: 119,68) million
ordinary shares issued. The comparatives for earnings per share and
weighted average number of ordinary shares in issue have been restated
for the sub-division of 5 for 1 ordinary shares on 10 September 2010.
The above earnings per share information has not been reviewed or
reported on by Assore`s auditors and the reviewed results for the year
ended 30 June 2011 are expected to be published on or about 26 August
2011.
Illovo Boulevard
Johannesburg
17 August 2011
Contact details:
Ross Davies
Switchboard: (011) 770 6800
Direct line: (011) 770 6815
E-mail: rossdavies@assore.com
Sponsor
Standard Bank
Date: 17/08/2011 16:01:03 Produced by the JSE SENS Department.
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