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GIJ
GIJ
GIJ - Gijima Group Limited - Trading Statement
Gijima Group Limited
(previously Gijima AST Group Limited)
Registration number 1998/021790/06
Share code: GIJ
ISIN: ZAE000147443
("Gijima" or "the Company")
TRADING STATEMENT
Gijima is currently finalising its results for the six months ended 31 December
2011, which are planned for release on SENS on or about 21 February 2012.
In this regard, shareholders are advised that Gijima`s reported basic earnings
per share ("EPS") and headline earnings per share ("HEPS") for the six months
ended 31 December 2011 are expected to improve to between 3.00 cents and 3.15
cents from the reported basic and headline loss per share of 28.25 cents and
28.24 cents respectively for the six months ended 31 December 2010 ("comparative
period").
EPS and HEPS for the six months ended 31 December 2011 were positively impacted
by a net 0.82 cents comprising of a number of once off items including:
* the reversal of an accrual not expected to realise that was created in
previous reporting periods;
* costs relating to the implementation of the new client centric
business model; and
* unrealised foreign exchange rate losses on the translation of
intercompany loan accounts.
The basic and headline loss per share reported for the comparative period
included a once-off expense in terms of a settlement agreement reached with the
Department of Home Affairs. Should the impact of the once-off settlement expense
be eliminated from the comparative period`s results, the expected improvement of
EPS and HEPS to between 3.00 cents and 3.15 cents for the six months ended 31
December 2011 occurs from a normalised basic and headline loss of 0.26 cents.
The net effect of the six months` trading is that cash balances have been
improved from R86.5 million as at the Company`s year ended June 2011, to R199.1
million at end December 2011. The Company`s debt-to-equity ratio has improved to
101% from the 116% recorded at year end.
The financial information on which this trading statement is based has not been
audited and reported on by the Company`s external auditors.
Samrand
25 January 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 25/01/2012 13:05:00 Produced by the JSE SENS Department.
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