Excellerate Holdings Limited - Trading Update Stat
Excellerate Holdings Limited - Trading Update Statement
EXCELLERATE HOLDINGS LIMITED
(Registration number 1997/009884/06)
Share code: EXL ISIN: ZAE000026092
Share code: EXLD ISIN: ZAE000044145
(`Excellerate` or `the company`)
In terms of the JSE Limited Listings Requirements, companies are required to
publish a trading statement as soon as they are reasonably certain that the
financial results for the current reporting period will be more than 20%
different than that of the previous corresponding period.
In light of the above, Excellerate expects to announce earnings per share and
headline earnings per share for the year ended 30 June 2005 that will be 95% to
115% higher and 0% to 20% higher respectively than that of the prior comparative
period.
The net profit has increased ahead of headline earnings largely due to the new
accounting statements which require that certain intangible assets no longer be
amortised.
Furthermore, Excellerate has experienced good results in all of its operations
except for its food trading business, Ibiza Trading, which showed unexpected
poor results. The former joint-managing directors and the financial director of
that business have since resigned and various steps are being taken to rectify
the situation. Further details in this regard will be disclosed with the
publication of the audited annual results.
The above information has not been reviewed or reported on by the company`s
auditors and the company`s audited results for the year ended 30 June 2005 are
expected to be published towards the end of September 2005.
Johannesburg
14 September 2005
Sponsor
Nedbank Capital
Date: 14/09/2005 10:38:51 AM
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