Tourvest - Trading Statement
Tourism Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/008144/06)
Share code: TRT ISIN: ZAE000012472
(`Tourvest`)
Trading Statement
In terms of section 3.4 paragraph b of the JSE limited Listing Requirements
(`the JSE Listing Requirements`), Tourvest is required to issue a trading
statements as soon as it is satisfied that a reasonable degree of certainty
exists that the financial results for the period to reported on next will differ
by at least 20% from the financial results of the previous corresponding period.
Heps for the year ended 25 June 2005 are expected to increase by between 180%
and 200%, from 5.95 cents last year. Eps is expected to increase by between 170%
and 190%, from 6.36 cents last year, primarily as a result of the lower
secondary tax on companies charge for the period of R38 million (as previously
reported on 22 February 2005).
Shareholders should note that Tourvest, in terms of recent accounting
developments, accounted for operating leases on a straight-line basis. In
addition, Tourvest adopted AC 140 Business Combinations during the 2005
financial year and as a result the amortisation of goodwill has ceased with
effect from the beginning of the current financial year. The changes in
accounting practice will not have a significant impact on the earnings of
Tourvest.
The financial information on which this trading statement is based has not been
reviewed or reported on by Tourvest`s auditors. The release of the results for
the year ended 25 June 2005 will be published on or about 18 August 2005.
By order of the board
Johannesburg
11 August 2005
Sponsor:
Investec Bank Limited
Date: 11/08/2005 05:20:07 PM
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