MASONITE - TRADING UPDATE
MASONITE (AFRICA) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1942/015502/06)
Share Code: MAS ISIN: ZAE000004289
(`Masonite`)
TRADING UPDATE
Shareholders are advised that headline earnings for the year ended 31 December
2004 are expected to be 55% lower than that of the prior year.
The reduction in earnings is due to the effect of the negative adjustment
resulting from the application of AC 137 - Agriculture. In 2003 the timber
valuation increased significantly due to high industry related timber prices and
this positively effected headline earnings. However the December 2004 valuation
is lower than that of December 2003 due mainly to the impact of forest fires in
September 2004, which affected Masonite and the timber industry as a whole.
Excluding the effect of AC 137 and the insurance accrued with respect to the
forest fires, trading income is expected to be 29% above that of the prior year.
This information has been reviewed but not reported on by Masonite`s auditors.
Durban
1 February 2005
Investment Bank and Sponsor
Nedbank Capital
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
