Faritec Holdings Limited - Trading Statement For T
FRT
FRT
Faritec Holdings Limited - Trading Statement For The Year Ended 30 June 2006
Faritec Holdings Limited
(Registration number 1998/004872/06)
Share code: FRT
ISIN: ZAE000016838
("Faritec" or "the company")
TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2006
In terms of the Listings Requirements of the JSE Limited ("JSE Listings
Requirements"), companies are required to publish a trading statement as soon as
they become aware that the financial results for the period to be reported upon
next will differ by at least 20% from the financial results for the previous
corresponding period.
Faritec accordingly advises that management"s review of the financial results
expected for the year ending 30 June 2006 has indicated that there will be an
improvement in headline earnings and earnings per share to between 9.8 and 10.5
cents, compared to headline earnings per share of 1.8 cents and earnings per
share of 3.6 cents, for the previous year ended 30 June 2005, as restated in
terms of International Financial Reporting Standards.
Management attributes this to improved trading margins and ongoing control of
operating expenses. The new strategy, transformation and investments made, are
now showing the expected returns.
Management also advises that the closing date for the acquisition of the
business of Enterprise Connection (Pty) Ltd, which was originally expected to be
1 May 2006, has been delayed to an anticipated closing date of 30 June 2006. As
a result of this delay in the closing date, Faritec will not be including any
trading results from the acquisition of this business in its financial results
for the year ended 30 June 2006.
The financial results on which this trading statement has been based have not
been reviewed or reported on by the company"s auditors. The financial results of
the company will be published on or about 13 September 2006.
Rosebank
14 June 2006
Sponsor
Java Capital (Proprietary) Limited
Date: 14/06/2006 11:10:03 AM Produced by the JSE SENS Department
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