ELB Group Limited - Trading Statement And Change To Dividend Policy
ELB Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1930/002553/06
Share Code: ELR
ISIN: ZAE000035101
(`ELB` or `the company`)
TRADING STATEMENT AND CHANGE TO DIVIDEND POLICY
Shareholders are advised that earnings per share and headline earnings per share
for the six-month period ending 31 December 2004 are likely to be more than 30%
higher than the corresponding reporting period of the previous year. Headline
earnings for the full year to 30 June 2005 are, however, following the recent
sale of ELB McWade Electrical (Pty) Limited, expected to be lower than the
headline earnings of 59,1 cents per share earned for the year ended 30 June
2004.
The forecast financial information on which this trading statement is based has
not been reviewed and reported on by the company`s auditors in accordance with
the JSE Securities Exchange South Africa Listings Requirements.
Change to Dividend Policy
Shareholders are further advised that ELB is entering a period of establishing
new business activities, therefore the directors have deemed it prudent to
conserve cash. Accordingly, the ordinary dividend for the 2005 financial year is
expected to be substantially less than the 30 cents per share paid in respect of
the previous year but is not expected to be less than 10 cents per share.
Sandton
22 November 2004
Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 22/11/2004 05:41:02 PM
Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
