The Spar Group Limited - Trading Statement
The Spar Group Limited
Registration number: 1967/001572/06
Share code: SPP
ISIN Number: ZAE000058517
(`Spar`)
TRADING STATEMENT
Shareholders are advised that earnings per share for the six months to 31st
March 2005 are likely to be between 20 to 30 % higher than earnings for the
corresponding reporting period of the prior year. It is however unlikely that
headline earnings per share will exceed 20% growth on earnings for the
corresponding reporting period of the prior year.
The increase in earnings per share is attributable to operating efficiencies,
the cessation of the payment of the management fee to the company`s former
holding company (Tiger Brands Ltd), the discontinuance of the amortization of
goodwill (in terms of IFRS 3) and a lower taxation charge. Headline earnings
growth per share is not expected to match the growth in earnings per share as a
result of the requirement in the corresponding prior reporting period to write
back to earnings the amortization of goodwill.
At this stage earnings per share and headline earnings per share for the full
year are not anticipated to exceed 20% growth on 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.
14 March 2005
Durban
Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
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