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Winhold - Trading Statement, Information on dividends and cautionary
WINHOLD LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1945/019679/06)
Share code: WNH & ISIN: ZAE000033916
("the company")
TRADING STATEMENT, INFORMATION ON DIVIDENDS AND CAUTIONARY ANNOUNCEMENT
Market conditions remained unchanged as reported for the half year.
Shareholders are advised that for the year ended 30 September 2005, attributable
earnings are expected to be 18,9% lower, earnings per share 29,3% lower, and
headline earnings per share 34,2% lower than those for the previous year.
The reduced earnings per share follow the conversion of preference shares and
the buyout of the minorities of Inmins Limited, resulting in the total number
of ordinary shares increasing by 34% to 126 215 131 from 94 197 304 for the
previous year.
The results for the year ended 30 September 2005 are expected to be published
on 8 December 2005. These results will include the formal declaration of a
dividend of 7,0 cents per share (2004: 5,2 cents).
Adverse market conditions experienced during the second half of the financial
year included:
polymer supplies from Sasol deteriorated at short notice, resulting in plant
downtime and problems to source polymers timeously from overseas suppliers;
high raw material prices weakened profit margins; and
despite an improvement in the revenue, cheaper imports reduced margins.
Positive steps undertaken by the Group during the second half and recent
market trends, should lead to improved results. These include:
the delisting of Inmins, removing the pyramid structure;
completion of the Group structures to facilitate the introduction of BEE
partners (see separate announcement in SENS and press);
finalisation of major capital projects in Gundle;
normalisation of polymer supplies; and
certain capital projects put on hold by the mining industry have now been
re-activated.
This information has not been reviewed and reported on by the auditors of the
company.
Shareholders are urged to exercise caution in dealing in their shares until
publication of the results.
By order of the board
D J de Villiers
Company Secretary
Germiston
1 December 2005
Sponsor
LPC Manhattan Moela (Pty) Ltd
(Registration number 2001/009215/07)
Date: 02/12/2005 07:02:16 AM Produced by the JSE SENS Department
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