New Clicks Holdings - Trading Statement
New Clicks Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/000645/06)
JSE share code: NCL
ISIN: ZAE000014585
("New Clicks" or "the group")
TRADING STATEMENT
As a result of the change in the interpretation of accounting standard IAS 17
(AC 105) on Leases by the South African Institute of Chartered Accountants in
Circular 7/2005, New Clicks has adopted the straight-line method of recognising
property rental expenses. This will have the effect of decreasing diluted
headline earnings per share by 1.8 cents for the year ended 31 August 2005 as
well as decreasing the comparative diluted headline earnings per share by 1.6
cents for 2004.
After bringing to account the above adjustment, the group anticipates that
diluted headline earnings per share for the year ended 31 August 2005 will be
between 60 and 65 cents per share.
In the year ended 31 August 2004 New Clicks reported a diluted basic loss per
share of 3.5 cents. As reported at the time, the difference between the diluted
basic loss per share and the diluted headline earnings per share of 74.5 cents
arose mainly as a result of the impairment of goodwill of R258.2 million for the
investment in Purchase Milton & Associates, the amortisation of goodwill of
R16.3 million and other capital items.
In the current year an amount of R17.1 million is required for an impairment of
the Link Investment Trust goodwill as well as various other capital items. The
impact of this for the year ended 31 August 2005 is that diluted basic earnings
per share will be lower than diluted headline earnings per share and it is
estimated that it will be between 55 and 60 cents per share.
New Clicks" results for the year ended 31 August 2005 will be released on SENS
on Wednesday, 26 October 2005.
The financial information on which this trading statement is based has not been
reviewed or reported on by the group"s auditors.
Cape Town
11 October 2005
For further information contact
Tier 1 Investor Relations
Tel: +27 (21) 702 3102
Sponsor
Investec Bank Limited
Date: 11/10/2005 02:01:07 PM Produced by the JSE SENS Department
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