DLV
DLV
Dorbyl - Trading Update
Dorbyl Limited
(Incorporated in the Republic of South Africa)
(Registration no. 1911/001510/06)
Ordinary share code: DLV
ISIN: ZAE000002184
("Dorbyl")
Trading Update
Dorbyl hereby advises that for the year ended 31 March 2006, it is expected that
earnings per share will be between 1600 and 1900 cents (compared to 217 cents
per share for the previous comparative year ended 31 March 2005, after restating
the earnings in respect of adjustments necessitated due the adoption of
International Financial Reporting Standards (IFRS)) and headline loss per share
is expected to be between 160 and 210 cents (compared to headline earnings of
280,7 cents per share for the previous comparative period adjusted for IFRS).
The main reason for the expected increase in the earnings per share is the
exceptional profit realised on the disposal of Alpine Engineered Products Inc
("Alpine"). Offset against this profit is the impairment of R55 million in
respect of the assets of certain of the Dorbyl Automotive Technologies"
operations and the provision raised of R15 million in respect of Benefit Fund
deficits, which was advised at the half year.
Based on the above, the expected decline in headline earnings results from
Secondary Tax on Companies (STC) of R110 million relevant to the R26 special
dividend and lower earnings from Alpine due to the disposal of that operation
during the period. Excluding the STC effect, headline earnings would have
declined by between 35% and 55%.
The information in this trading statement has not been reviewed or reported on
by Dorbyl"s auditors.
Johannesburg
24 May 2006 Sponsor: PSG Capital Limited
Date: 24/05/2006 10:24:36 AM Produced by the JSE SENS Department
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