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AVU
AVU
AVU - Avusa Limited - Updated trading statement
Avusa Limited
Incorporated in the Republic of South Africa
(Registration number: 2008/002461/06)
Share code: AVU
ISIN code: ZAE000115895
("Avusa" or "the company")
UPDATED TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a listed
company is required to issue a trading statement once it is satisfied
that 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.
Accordingly, further to the trading statement released on SENS on 24
October 2011, the company advises that earnings per ordinary share for
the six months ended 30 September 2011 are expected to be between 55%
and 65% below the comparative period and headline earnings per ordinary
share are expected to be between 85% and 95% below the previous
corresponding period. Headline earnings per share exclude a profit
generated on the sale of commercial properties by the Books business
unit.
In addition to poor trading at the Entertainment and Books business
units, the results include costs arising from the expression of interest
received from Capitau, charges resulting from a separation agreement
reached between the company and its former group chief executive
officer, the company moving from an interest-earning to interest-paying
position and the dilutory effect of an increased number of shares in
issue as a result of the purchase of the Retail Solutions business unit,
a reduced credit from a group retirement fund that is being wound down,
and a profit generated by the Books business unit on the sale of two
commercial properties.
The financial information on which this trading statement is based has
not been reviewed or reported on by the company`s auditors.
Avusa`s financial results for the half-year ended 30 September 2011 are
scheduled to be announced on or about Thursday, 24 November 2011.
11 November 2011
Johannesburg
Sponsor
Nedbank Capital
Date: 11/11/2011 17:00:01 Produced by the JSE SENS Department.
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implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
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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