ILA
ILA
ILA - Iliad Africa Limited - Trading Statement
Iliad Africa Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/011938/06)
Share code: ILA & ISIN: ZAE000015038
("Iliad" or "the Company")
TRADING STATEMENT
In accordance with paragraph 3.4(b) of the listings requirements of the JSE
Limited, shareholders are advised that Iliad`s results for the year ended
31 December 2011 will reflect a loss per share (LPS) of between 170 to 180
cents per share for the year, compared to earnings of 38.8 cents per share
in 2010. As reported through our SENS releases dated 12 August 2011 and 23
August 2011, these results include an impairment of intangible assets of
R249.5 million, mainly relating to the Campwell Hardware and Thorpe Timber
businesses.
The headline earnings per share (HEPS) for the year will be between 9 and
10 cents per share, compared to the headline earnings of 39.1 cents per
share in 2010. The full year HEPS of between 9 and 10 cents per share
represents a significant improvement on the interim result for the period
ended 30 June 2011 (Headline loss per share - 32.0 cents per share). The
headline earnings for the year include once-off portfolio adjustment costs
of approximately R 46 million relating to the rationalisation of
underperforming stores.
Excluding the once-off portfolio adjustment and impairment costs, EBITDA is
expected to be between 0% and 5% lower than that reported for the prior
year, and the relevant EBITDA increase on the comparative period in the
second half of the year is between 18% and 22%. In a challenging trading
environment, Group turnover for the year increased by between 7% and 8%,
with comparable second half turnover growth of between 10% and 11%. Lower
than inflation increases were experienced in comparable year-on-year
expenses.
The financial information on which this trading statement is based, has not
been reviewed by the company`s auditors. The Company`s results will be
released on or about 27 March 2012.
28 February 2011
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 28/02/2012 16:24:01 Produced by the JSE SENS Department.
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