Faritec Holdings Limited - Trading Statement For The Year Ended 30 June 2005
Faritec Holdings Limited
(Registration number 1998/004872/06)
Share code: FRT
ISIN: ZAE000016838
(`Faritec` or `the company`)
TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2005
In terms of the Listings Requirements of the JSE Securities Exchange South
Africa (`JSE Listings Requirements`), companies are required to publish a
trading statement as soon as they become aware that the financial results for
the period to be reported upon next will differ by at least 20% from the
financial results for the previous corresponding period.
Faritec accordingly advises that management`s review of the financial results
expected for the year ended 30 June 2005 has indicated that Faritec will make a
profit for the period. In the year ended 30 June 2004, Faritec made a net loss
of R11.6 million.
As a result of this, there will be an improvement in headline earnings per share
to between 1.8 and 2.2 cents and an improvement in earnings per share to
between 4.6 and 5.2 cents, as well as cash on hand, for the year ended 30 June
2005.
Management attributes this to improved trading margins and ongoing control of
operating expenses. The new strategy, transformation and investments made, have
started to show the expected returns.
The financial results on which this trading statement has been based have not
been reviewed or reported on by the company`s auditors. The financial results of
the company will be published on about 15 September 2005.
Rosebank
17 May 2005
Sponsor
Java Capital (Pty) Ltd
Date: 17/05/2005 09:30:32 AM
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