MML
MML
Metmar Limited - Trading Statement
Metmar Limited
(formerly Heritage Collection Holdings Limited)
Incorporated in the Republic of South Africa
Registration number 1998/007269/06
Share code: MML
ISIN code: ZAE000078747
("Metmar" or "the company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited ("JSE"), companies
are required to publish a trading statement as soon as they are reasonably
satisfied that the financial results for the period to be reported upon next
will differ by at least 20% from the previous reporting period.
Metmar ordinary shares were listed on the JSE under the Industrial Metals
sector on 22 May 2006 ("the listing") subsequent to the implementation of the
reverse take-over of Heritage Collection Holdings Limited ("Heritage"). Metmar
holds all of the issued shares of Metmar Trading (Pty) Ltd and Metmar
Properties (Pty) Ltd, 69.1% of the issued shares of Matrix Metals (Pty) Ltd
and 90% of the issued shares of Hornet Properties (Pty) Ltd (the "operating
companies" or the "Metmar group")
Prior to the listing, the operating companies were privately held and
accordingly were not required to, and did not produce, half yearly financial
reports. In the abridged revised listings particulars of Metmar published on
SENS on 18 May 2006, it was disclosed that the pro forma consolidated
attributable audited profit earned by the Metmar group, for the year ended 28
February 2006, was R31.6 million, which was equivalent to an earnings per
share of 18 cents and a headline earnings per share of 17.6 cents. As the
Metmar group"s earnings are not cyclical in nature, a reasonable assumption is
that approximately half of these profits (being R15.8 million) accrued in the
first six months of the financial year ended 28 February 2006.
It is now anticipated that, for the half year ended 31 August 2006, the
attributable consolidated earnings and headline earnings per share of the
Metmar group will be between 30% and 40% higher than those estimated to have
been earned for the same period in the previous financial year.
The financial information on which this trading statement is based has not
been reviewed or reported on by the company"s auditors.
6 October 2006
Bryanston
Sponsor : BDO QuestCo (Pty) Limited
Date: 06/10/2006 09:00:04 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
