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COH
COH
COH - Curro Holdings Limited - Trading Statement
Curro Holdings Limited
Incorporated in the Republic of South Africa
(Registration number: 1998/025801/06)
JSE Share Code: COH
ISIN: ZAE000156253
("Curro" or "the Company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a listed company
is required to publish a trading statement as soon as it becomes aware that
the financial results for the financial period to be reported on next will
vary by 20% or more from those of the previous comparable period.
Curro management published a forecast for the year ending 31 December 2011
("the Profit Forecast") in its pre-listing statement dated 26 May 2011.
The Profit Forecast was based on the facts and assumptions known to
management at the time. However, Curro has subsequently built additional
capacity and seized more opportunities than initially anticipated. The
costs associated with same have consequently had a negative impact on
earnings during the current reporting period. Curro`s prospects remain
positive and the financial benefits associated with the expansion of the
Company`s footprint are expected to come to fruition in upcoming reporting
periods.
Shareholders are hereby advised that a reasonable degree of certainty
exists that the Company will report an attributable and headline loss of
between 5.6 cents and 6.6 cents per share for the year ended 31 December
2011, opposed to a profit of 0,7 cents per share published in the Profit
Forecast.
The financial information on which this trading statement is based has not
been reviewed and reported on by Curro`s auditor. The financial results for
the year ended 31 December 2011 are expected to be published on or about 28
February 2012.
By order of the Board
Durbanville
17 February 2012
Designated adviser
Sasfin Capital
(A division of Sasfin Bank)
Corporate adviser
PSG Capital
Date: 17/02/2012 17:02:07 Produced by the JSE SENS Department.
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