CKS
CKS
Crookes Brothers Limited - Trading statement
CROOKES BROTHERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
(`the company")
Share code: CKS & ISIN: ZAE000001434
Trading statement
In terms of the Listing Requirements (Section 3.4(b)) 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 upon will differ by at least 20% or more
from those of the previous corresponding period.
Shareholders are advised that the company"s earnings and headline earnings
for the six month period ending 30 September 2006 are expected to be
between 30% and 50% higher than the previously reported corresponding
period.
The company is benefiting from the higher world sugar prices as well as the
more favourable Rand/US dollar exchange rate. The improved prices have been
offset by the company"s lower cane production volumes and a reduction in
cane quality due to adverse weather conditions. The company"s cane volumes
for the interim period are lower than those of the previous year, due
mainly to reduced production from the company"s Mpumalanga estates which
are in the process of recovering from the effect of the drought in previous
years.
An excellent citrus season was experienced following the marketing collapse
in Japan last year. Export citrus volumes have increased by 20% to 288000
cartons.
Shareholders are however advised that the seasonal nature of the company"s
farming operations makes comparison of the interim figures extremely
difficult. Sugar cane is harvested between April and December; citrus
between May and August; grain during October and November; deciduous fruit
between January and May; and bananas throughout the year.
At this stage, the company"s earnings and headline earnings for the full
year ending 31 March 2007 are expected to be between 210 and 230 cents per
share.
The information in this trading statement has not been reviewed or reported
upon by the company"s auditors. The company"s actual results for the 6
month period ended 30 September 2006 are expected to be published on 1
December 2006.
Renishaw
22 November 2006
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited.
Date: 22/11/2006 05:47:12 PM Produced by the JSE SENS Department
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