| Wed 7 Dec 2005, 15:44 | | Frontrange Limited - Trading Update |
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Frontrange Limited - Trading Update
FRONTRANGE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/009928/06)
Share code: FRO ISIN: ZAE000035325
("FrontRange")
Trading update
Frontrange shareholders are referred to paragraph 3 of the Salient Features set
out in the circular to shareholders dated 5 December 2005, which contains the
following:
"During the six month period to 31 October 2005, FrontRange Limited"s group
operations continued to perform satisfactorily, with revenue of approximately
$44,0-million representing a growth over the six months ended 31 October 2004 of
around 13,2%. This increase in revenue, combined with tightly managed expenses,
generated trading profit (after amortising capitalised research and development
costs but before the amortisation of other intangible assets) in the region of
$4,4-million, a 91% increase over the comparable period in the prior year.
After including the effects of amortisation of other intangibles, foreign
exchange loss, net finance income, exceptional restructuring expenses and the
raising of $3,4-million of additional deferred taxation assets, FrontRange
generated attributable profit and headline earnings of $6,7-million.
FrontRange"s earnings per share for the period are accordingly 4, 2 US cents, a
98% increase over the comparable period in the prior year. FrontRange"s
headline earnings per share are 4.2 US cents, a 63% increase over the comparable
period in the prior year.
All of the above figures exclude the effects of IFRS2: Share-Based Payment, the
application of which results in lower trading profit and headline earnings, but
higher comparable percentages increase over prior year:
Including the effects of IFRS2:, Share-Based Payment, which FrontRange adopted
with effect from 1 May 2005, FrontRange"s trading profit for the six months
ended 31 October 2005 (after amortising capitalised research and development
costs but before the amortisation of other intangible assets) was $3,3-million,
generating attributable profit and headline earnings of $5,6-million. On that
basis, FrontRange"s earnings per share and headline earnings per share for the
period were 3.5 US cents, a respective increase over prior year earnings per
share and headline earnings per share of 279% and 155% .
This trading update has not been reviewed by FrontRange"s auditors."
Johannesburg
7 December 2005
Sponsor
Nedbank Capital
Date: 07/12/2005 03:45:03 PM Produced by the JSE SENS Department
