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BDM
BDM
BDM - Buildmax Limited - Trading statement
Buildmax Limited
(Registration No. 1995/012209/06)
Share Code: BDM ISIN Code: ZAE000011250
("Buildmax" or the "company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, companies are
required to publish a trading statement as soon as they are satisfied a
reasonable degree of certainty exists that the financial results for the
period to be reported upon next will differ by at least 20% from the
financial results for the previous corresponding period.
The turn-around strategy that was communicated to shareholders
incorporating a greater focus on mining implemented during the 2011
financial year has started to deliver promising results with a notable
improvement in the operating performance in the Mining Services Business
Unit. The Construction Materials Business Unit is still experiencing
tough trading conditions albeit a relatively small contributor to Group
revenue.
The strategic and restructuring initiatives undertaken by the Group are
discussed in detail in the Group`s Integrated Report for the financial
year ended 28 February 2011, that was posted to shareholders at the end
of August 2011.
Shareholders are advised that Buildmax expects a headline profit per
share of between breakeven and 0.1 cents for the six months ended 31
August 2011 compared to the headline loss per share of 7,0 cents for the
six months ending 31 August 2010 (restated to 3.3 cents loss per share
as a result of the rights issue in November 2010).
The Group`s basic loss per share for the six months ended 31 August 2011
will improve to between 0.3 and 0.5 cents per share from the reported
loss per share of 31,6 cents for the six months ended 31 August 2010
(restated to a loss of 15.0 cents per share).
The variance between the Group`s headline profit and basic loss per
share resulted from a loss on sale of operationally redundant mining
equipment and the impairment of historical shareholder loans on the sale
of Benoni Sand and Buildware (Pty) Limited to management.
The information on which this trading statement has been based has not
yet been reported on by the company`s auditors.
13 September 2011
Sponsor
Java Capital
Date: 13/09/2011 17:17:51 Produced by the JSE SENS Department.
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