ORE
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ORE - Orion Real Estate Limited - Trading update
ORION REAL ESTATE LIMITED
Incorporated in the Republic of South Africa)
(Registration number: 1997/021085/06)
Share Code: ORE ISIN: ZAE000075651
("Orion Real Estate" or "the company")
TRADING UPDATE
In terms of paragraph 3.4(b)(i) of the Listings Requirements of the JSE
Limited, 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 board would like to advise shareholders that the basic earnings per
linked unit have decreased from 8.40 cents at 30 June 2010 to approximately
(0.32) cents for the year ending 30 June 2011. The decrease was due to very
tight trading conditions and the subdued economy. The total value of the
property portfolio showed very little positive movement. In addition, a
sharp increase in direct property operational costs has also eroded profits.
The expected headline earnings per linked unit is also expected to drop
from.03 cents at 30 June 2010 to approximately (.60) cents for the year
ended 30 June 2011 due to the less than expected growth in income and the
increase in utility costs.
Johannesburg
13 September 2011
Sponsor
Arcay Moela Sponsors (Proprietary) Limited
(Registration number 2006/033725/07)
Date: 13/09/2011 16:12:01 Produced by the JSE SENS Department.
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