THE YORK TIMBER ORGANISATION LIMITED - TRADING STA
THE YORK TIMBER ORGANISATION LIMITED - TRADING STATEMENT
The York Timber Organisation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code YRK ISIN Code: ZAE000008108
(`Yorkcor` or `the company`)
Trading Statement
In terms of the Listings Requirements of the JSE Securities Exchange South
Africa (`JSE`) a listed company is required to publish a trading statement as
soon as it becomes aware that the financial results for the next period to be
reported on will differ by at least 20% or more from those of the previous
corresponding period.
It is expected that the group financial results for the year ended 31 December
2004 will show an improvement over the previous year. Headline earnings per
share for 2004 are expected to reflect an increase of between 520% and 610%.
Earnings in the 2003 financial statements were 303,2 cents per share of which
257,1 cents per share was attributable to the proceeds of the compensation
amounting to about R29 million awarded to the group on 29 March 2004 and paid by
the government on 17 June 2004. The adjusted figure for earnings amounted to
46.1 cents per share in 2003. The earnings per share figure for 2004 is expected
to show an improvement of between 55% and 65% after such adjustment.
In the light of the expected improved results and financial position, the
directors are considering the declaration of a special dividend in addition to
an ordinary dividend. The company did not pay a dividend last year.
The financial information on which this trading statement is based has not been
reviewed or reported on by the group`s auditors. The publication of the results
is expected during March 2005.
Pretoria
Sponsor:Sasfin Corporate Finance: a division of Sasfin Bank Ltd
Friday, 11 February 2005
Date: 11/02/2005 08:00:02 AM
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