Tiger Wheels Limited - Trading update
Tiger Wheels Limited
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1970/011662/07)
("TIWHEEL" OR "THE COMPANY")
SHARE CODE: TIW ISIN NUMBER: ZAE000007407
TRADING UPDATE
Due to the factors referred to below, and in compliance with the JSE Ltd"s
Listings Requirements, the Tiwheel board wishes to issue this trading update to
its shareholders.
The expected earnings and headline earnings per share for the half year to 31
December 2005 are expected to be between 30% and 50% lower than the results for
the comparative period (31 December 2004 EPS 88.3 c HEPS 120.7 c - restated in
terms of IFRS).
The results for the half year will be impacted by start-up losses and reduced
sales at the newly acquired Kentucky plant. In addition, tough trading
conditions have been experienced by the group"s manufacturing plants ascribed to
the lag effect in the recovery of the higher aluminium prices, volatility in the
order books and price down pressure from customers.
Despite the above, it is expected that the headline earnings for the full year
ended 30 June 2006 will not vary materially from those achieved in the previous
financial year.
A warranty claim of $6.4m has been instituted against the vendors of the newly
acquired Kentucky plant. This claim has not been accounted for in the forecast
results.
The information in this trading statement has not been reviewed or reported on
by Tiwheel"s auditors.
Johannesburg
12 December 2005
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 12/12/2005 04:41:57 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
