AGI
AGI
A G Industries Limited - Trading update
A G INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1980/004051/06
Share Code: AGI
ISIN: ZAE000039467
("The Company" or "the Group")
Trading update
The Group is currently finalising its results for the year ended 30 June
2006. In terms of the Listings Requirements of the JSE Limited relating to
trading statements a listed company is required to publish a trading
statement as soon as it becomes aware that the financial results for the
next period to be reported on will differ by at least 20% or more from
those of the previous corresponding year. Shareholders are advised that the
anticipated headline earnings per share for the year ended 30 June 2006
("the reporting period") will be 95% to 105% higher than the results of the
previous corresponding period, while the basic earnings per share will be
375% to 385% higher.
The record results reflect strong growth in the domestic economy with an
extremely buoyant construction sector and brisk consumer spending. The
Group took advantage of these factors and grew revenues from continuing
operations by approximately 20%, with organic growth as well as inflation
contributing to increased selling prices for the first time in many years.
Group operating margins widened and there was an improvement in the
overhead to revenue ratio which further contributed to the profitability.
The effects of the first time adoption of IFRS were not considered material
and smoothing of lease payments in accordance with IAS17 - Leases (adopted
by the Group in the previous reporting period) had a positive impact on
results for the reporting period.
The international operations traded profitably and added to the solid
domestic profitability.
The information in this trading statement has not been reviewed or reported
on by the company"s auditors.
Information in regard to the Company"s operations and prospects for the
2007 financial year will be furnished in the company"s announcement of the
results for the financial year ended 30 June 2006 which will be published
on SENS on or about 5 September 2006.
25 August 2006
Johannesburg
Sponsor : Sasfin Capital
(A division of Sasfin Bank Limited)
Date: 25/08/2006 03:37:02 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
