Jasco Electronics Holdings Limited - Trading Statement
Jasco Electronics Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/003293/06)
Share Code: JSC ISIN: ZAE000003794
(`Jasco` or `the group`)
TRADING STATEMENT
Shareholders are advised that the ongoing improvement in Jasco`s profitability
continued during the second half of the year to 28 February 2005. All three
operating divisions (telecommunications, manufacturing and security) continued
to show progress.
Earnings per share are therefore expected to exceed those of the prior year by
between 410% and 430%.
Shareholders are referred to Jasco`s 2004 annual report that outlines the
distortion in Jasco`s headline earnings due to the benefits derived from a
provision for a liability which is no longer required and the effects of a
deferred tax asset yet to be utilised. In the interest of showing like-for-like
headline earnings and ratios to those of the past, comparative headline earnings
were introduced in 2003.
Comparative headline earnings per share are expected to improve by more than
420% from 4,2 cents per share for the prior year to between 22 and 24 cents per
share for the year ending 28 February 2005. Headline earnings per share (which
include the anomalies mentioned above) are expected to decline by about 50% from
33,6 cents per share for the prior year to between 15 and 17 cents per share for
the year ending 28 February 2005.
The group continued to be cash generative during the last six months and will
end the financial year with no gearing and a stronger balance sheet. The final
audited results are expected to be announced on 19 April 2005.
The forecast financial information on which this trading statement is based has
not been reviewed or reported on by Jasco`s auditors.
Woodmead
16 March 2005
Sponsor
Sasfin Corporate Finance
A division of Sasfin Bank Limited
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
