CNL
CNL
CNL - Control Instruments - Trading Statement
Control Instruments Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1964/003987/06)
Share code: CNL
ISIN code: ZAE000001665
("Control Instruments" 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 their
financial results for the current reporting period will differ from the previous
corresponding period by more than 20%.
For the year ended 31 December 2006, Control Instruments expects to announce an
increase in revenue between 80% and 100% and an increase in profit before
taxation between 140% and 160%. As a result of a lower rate of taxation due to
negative goodwill, profit after taxation is expected to increase between 160%
and 180%. Normalised profit before tax (which excludes certain IFRS adjustments
and once-off costs) is expected to increase by between 20% and 40%. Normalised
operating profit (before interest and tax) is expected to increase by between
40% and 60%.
Earnings per share is expected to increase between 100% and 120%, however
headline earnings per share is expected to decrease between 100% and 120%. The
major reason for this disparity is the IFRS requirement with respect to
accounting for negative goodwill. Normalised earnings before tax per share is
expected to decrease by between 0% and 20%. This can be attributed to the
increased number of shares in issue. Normalised operating profit (before
interest and tax) per share is expected to increase by between 10% and 30%.
Shareholders are advised that this information has not been reviewed or reported
on by the Company`s external auditors. Control Instruments` results for the year
ended 31 December 2006 are expected to be published on SENS and in the press on
or about 19 March 2007.
Cape Town
13 March 2007
Sponsor:
Investec Bank Limited
Date: 13/03/2007 15:50:56 Produced by the JSE SENS Department.
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