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CLR CLRP
CLR
CLR/CLRP - Clover Industries Limited - Trading Statement
CLOVER INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/030429/06)
Ordinary Share code: CLR
ISIN: ZAE000152377
Preference Share Code: CLRP
ISIN: ZAE000152385
("Clover Industries" or "the Company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, companies are obliged
to provide guidance to the market when they are satisfied that a reasonable
degree of certainty exists that the financial results for a reporting period
will differ by at least 20% from the results of the previous corresponding
reporting period.
2009/10 2009/10 2010/11 % % variance
Pro Forma Actual Forecast variance from 2009/10
from Actual
2009/10
Pro
Forma
R`m R`m R`m
Earnings from 292.6 298.7 179.6 -38.6% -39.9%
continuing operations
Earnings 324.8 330.8 179.6 -44.7% -45.7%
Headline earnings from 12.9 19.0 175.2 1258.1% 822.1%
continuing operations
Headline earnings 45.1 51.1 175.2 288.5% 242.9%
Weighted average 202 719 154 595 153 882
ordinary shares in 048 442 447
issue
Cents per Cents per Cents per
share share share
EPS from continuing 144.36 193.21 116.71 -19.2% -39.6%
operations
EPS 160.20 213.99 116.71 -27.1% -45.5%
HEPS from continuing 6.38 12.29 113.84 1684.3% 826.3%
operations
HEPS 22.23 33.07 113.84 412.1% 244.2%
The comparative (2010) HEPS and EPS are the pro forma results as disclosed in
the Prelisting Statement issued on 29 November 2010 and comprise of the 2009/10
actual results adjusted for the effects of the Initial Public Offer (IPO) as if
the IPO occurred on 1 July 2009.
The weighted average number of ordinary shares used to calculate the 30 June
2010 HEPS and EPS were adjusted to take into consideration the 2 for 1
subdivision of the ordinary shares effective on the 4th of November 2010.
2009/10 2010/11 %
Actual Forecast variance
R`m R`m
Normalised earnings from 187.6 191.8 2.2%
continuing operations
Shareholders are advised that the forecasted results for 2010/11 on which this
trading statement is based have not been reviewed and reported on by the
Company`s external auditors.
It is anticipated that Clover Industries will release its 2011 financial results
on SENS on or about 19 September 2011.
Johannesburg
8 September 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08/09/2011 10:00:01 Produced by the JSE SENS Department.
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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.
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