AFE
AFE
AECI Limited - Trading Statement
AECI LIMITED
("AECI" or "the Company")
(Incorporated in the Republic of South Africa)
Registration No. 1924/002590/06
Share code: AFE
ISIN code: ZAE000000220
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, a listed company must
publish a trading statement as soon as it is satisfied that a reasonable degree
of certainty exists that the financial results for the period to be reported
upon next will differ by at least 20 per cent from that of the previous
corresponding period.
AECI expects that for the half year ending 30 June 2006, headline and
attributable earnings per ordinary share will be between 365 and 400 cents per
share (that is, 88 to 106 per cent higher than in the first half of 2005).
The reason for the expected increase in earnings is the conclusion of an
unconditional agreement by the Company to dispose of 61 hectares of industrial
land at Milnerton in the Western Cape for R260 million, thereby realising a
substantial gain on disposal. The disposal will be recognized in the financial
statements of the Company when guarantees covering the full purchase price are
received, which is expected to be before the conclusion of the interim reporting
period.
The information in this trading statement has not been reviewed and reported on
by the auditors of the Company.
The results for the half year ending 30 June 2006 will be published on 25 July
2006.
Sandton
12 June 2006
Sponsor
J.P. MORGAN EQUITIES LIMITED
Date: 12/06/2006 08:40:08 AM Produced by the JSE SENS Department
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