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Italtile - Trading Statement
Italtile Limited
(Incorporated in the Republic of South Africa)
(Registration number 1955/000558/06)
ISIN: ZAE000003679 & Share code: ITE
("Italtile" or "the company")
TRADING STATEMENT
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 from that of the previous corresponding period.
In light of the aforementioned requirements, Italtile expects to announce an
improvement in Profit before Tax of between 25% and 28% for the six months ended
31 December 2005. Earnings per share and headline earnings per share will
reflect an improvement of between 19% and 21% over the prior comparative period,
adversely impacted by the reduction in the company"s Treasury Shares, and the
increased effective tax rate of 33.8%, resulting from STC applied in the review
period on the special dividend declared in August 2005, related to the prior
reporting period.
The company traded strongly in a buoyant retail environment. Having
successfully accomplished the evolution from niche tile merchant to specialist
home enhancement fashion retailer offering a comprehensive range of both tiling
and bathware products, the company"s performance was positively impacted by the
enhanced scope, which has broadened the group"s target market and promoted
margin growth.
Capitalising on its dominant position in a growing industry, the company
benefited from continued robust activity in the new residential and renovation
markets, an expanding and receptive consumer base, and strong loyalty to the
company"s CTM and Italtile brands.
Shareholders are advised that the above information has not been reviewed or
reported on by Italtile"s external auditors. The company"s results for the six
months ended 31 December 2005 are expected to be released on 08 February 2006.
Johannesburg
25 January 2006
Sponsor
Nedbank Capital
Date: 25/01/2006 08:00:04 AM Produced by the JSE SENS Department
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