SLO
SLO
SLO - SELCo - Trading Statement
Southern Electricity Company Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/006894/06)
Share code: SLO
ISIN: ZAE000041919
("SELCo" or "the company")
TRADING STATEMENT
In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements,
companies are required to publish a trading statement as soon as they are
satisfied that a reasonable degree of certainty exists that the financial
results for the period to be reported on next will differ by 20% or more
from the financial results for the previous corresponding period.
The directors of SELCo hereby notify shareholders that the company`s loss
and headline loss per share for the six months ended 31 December 2011 is
expected to be between 3.93 cents and 4.16 cents (six months ended 31
December 2010: 1.14 cents loss and headline loss per share). This
decrease can largely be ascribed to the fact that the electricity rates
increase was only passed for implementation with effect from November
2011 by the Electricity Control Board of Namibia, while SELCo had to pay
increased rates to its bulk supplier, NamPower, with effect from July
2011.
The financial information on which this trading statement is based has
not been reviewed or reported on by SELCo`s auditors. The interim
results are expected to be published on or about 30 March 2012.
Pretoria
23 March 2012
Sponsor: Grindrod Bank Limited
Date: 23/03/2012 10:32:01 Produced by the JSE SENS Department.
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