Pasdec - Trading Statement
PASDEC RESOURCES SA LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/004942/06)
(`Pasdec` or `the group`)
Share Code: PSC ISIN Number: ZAE000023552
TRADING STATEMENT
Further to the Trading Statement to Pasdec Shareholders published on 13 December
2004, Shareholders are advised that, based on more recent information, the loss
and headline loss per share of the group for the year ending 31 December 2004 is
now expected to be between 135 and 162 cents in comparison to earnings and
headline earnings per share of 120 in respect of the comparative period, being
the year ended 31 December 2003.
The expected decline in earnings is primarily attributable to a substantial
write down of inventory resulting from the strong rand, and the provision of
certain retrenchment costs.
The decline in earnings per share is not considered to be a trend but a once off
occurrence as a result of the above abnormal items, following the re-alignment
of the Femco Group to current market conditions.
The automotive subsidiary, Pasdec Automotive Technologies (Pty) Ltd, continues
to earn profits in line with its budget expectations.
Full details of the above will be provided when the company publishes its
results on or about 30 March 2005.
The financial information on which this trading statement is based has not been
reviewed nor reported on by the group`s auditors.
Sandton
23 March 2005
Sponsor
KPMG
Date: 23/03/2005 05:15:02 PM
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