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Italtile Limited - 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 20% and 24% for the year ended 30
June 2006. Earnings per share and headline earnings per share will reflect an
improvement of between 19% and 22% over the prior comparative period.
Delivering its 15th consecutive year of real earnings growth, the company
benefitted from the robust trading environment and an expanded customer base as
greater numbers entered the mainstream residential and renovation markets.
The group"s high profile broad based CTM and niche Italtile brands cater for
consumer aspirations across the spectrum and continued to benefit from this
expansive positioning and high degree of customer loyalty, which served to
entrench the group"s leadership status in the market.
Upgraded stores across the network offering improved, extended tile and
sanitaryware ranges, coupled with stable product prices drove volume growth in
the review period.
Consumer support for Italtile"s transition from tile merchant to multifaceted
fashion retailer is evidenced by the group"s strong performance in the bathware
sector.
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 year
ended 30 June 2006 are expected to be published on SENS on or about 07 August
2006.
Johannesburg
24 July 2006
Sponsor
Nedbank Capital
Date: 24/07/2006 10:00:03 AM Produced by the JSE SENS Department
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