| Fri 30 Mar 2012, 10:30 | | JDH - John Daniel Holdings Limited - Trading Statement and further |
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JDH
JDH
JDH - John Daniel Holdings Limited - Trading Statement and further
improvement in financial results
JOHN DANIEL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 1998/013215/06)
Share code: JDH ISIN: ZAE 000136677
("the Company")
TRADING STATEMENT
Further Improvement in Financial Results
The restructure initiatives implemented during the September 2011 financial
year continue to positively impact the trading results. Illustrated through
the turnover growth of 630%, comparing the turnover achieved during the 5
month period ended 29 February 2012 to the, previously reported 6 month
interim period, ended 31 December 2010. Gross Profit for the same period is
up by 455%.
The improved trading results include a pleasing turnaround in the subsidiary
operations including:
* Significantly increased Biotechnology revenues up by 502%, generated
largely by Cryo-Save SA (Pty) Ltd;
* Significantly increased agri-packaging revenues up by 732%
* Reduction in comparative overhead structure;
* Continued growth in the loan book of the financial services business,
JDH Credit Services (Pty) Ltd`s (formerly Viscacom (Pty) Ltd); and
In addition the conclusion of a R15 million fully subscribed JDH rights
offer, and the conversion of the Escalator Capital Limited loan into equity,
has had a positive impact on the trading results.
In terms of the JSE Listings Requirements, a listed company is required to
publish a trading statement as soon as its board of directors ("board") is
satisfied that a reasonable degree of certainty exists that the financial
results for the next period to be reported on will vary by more than 20%
from those of the previous corresponding period or from a profit forecast
previously provided to the market in relation to such period.
Accordingly, and following the previous trading statement published on 7
February 2012 which advised shareholders that the interim loss per share and
headline loss per share for 31 March 2012 was expected to reduce by at least
20% compared to the results published for 31 December 2010, shareholders
are now advised that the board is reasonably certain that both the loss per
share and headline loss per share for the six month interim period ending 31
March 2012 (being the first six month period for the financial year ending
30 September 2012 after the change in financial year end from 30 June to 30
September, effected in 2011) will be reduced by between 55% and 75% compared
to the published results for the comparable six months ended 31 December
2010.
The above information has not been reviewed or reported on by the Company`s
auditors.
Johannesburg
30 March 2012
Sponsor
Arcay Moela Sponsor (Pty) Ltd
Date: 30/03/2012 10:30:01 Produced by the JSE SENS Department.
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