BAW
BAW
Barloworld - Trading Statement
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(ISIN: ZAE000026639)
("Barloworld or the Company")
Trading Statement
Favourable trading conditions in southern Africa have resulted in improved
results from operations. In addition the group has benefited from positive fair
value adjustments on forward cover contracts due to the weaker rand, an
accounting gain arising largely from a change in accounting policy for defined
benefit pension funds and the impact of the share buy back program on the
weighted shares in issue for the year. During the past six months we have
repurchased 10 145 835 Barloworld ordinary shares at an average price of
R113.97. The total cost of the share buyback program was R1 156 million.
The overall affect of the above factors is an expected increase in headline
earnings per share and earnings per share from continuing operations of 25% -
35% for the year ended 30 September 2006 over the comparable period last year.
The legal agreements for the sale of the steel tube division are in the final
stages of completion but the transaction remains subject to Competition Tribunal
approval. The division will be treated as a discontinued operation for the full
year.
This financial information has not been reviewed or reported on by Barloworld"s
auditors. Barloworld Limited expects to announce its results for the full year
to September 2006 on 20 November 2006.
Sandton
04 October 2006
Sponsor
JP Morgan Equities Limited
Date: 04/10/2006 11:57:04 AM 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
