Delta EMD Limited
Incorporated in the Republic of South Africa
Registration number 1919/006020/06
Share code: DTA ISIN: ZAE000132817
(?Delta EMD? or ?the Group?)
TRADING STATEMENT FOR THE YEAR ENDING 27 DECEMBER 2013
The Group?s earnings and headline earnings after taxation for the
year ending 27 December 2013 (the year) are forecast to be lower
than for the year ended 27 December 2012 (prior year).
The full year results will include a R9.8 million write down of
inventory. Excluding this adjustment, the Group?s underlying
trading results for the year are expected to be similar to those
of the prior year.
The Group has undertaken an impairment review in accordance with
IAS36, which gave rise to a pre-tax impairment of R121.4 million
on the carrying value of the Nelspruit EMD manufacturing plant and
equipment, effectively reducing the carrying value of these assets
to fair value.
The Group forecasts a full year loss of between R73.7 million and
R77.1 million (2012: earnings of R17.1 million). The Group?s
headline earnings for the year are expected to be between R12.4
million and R16 million (2012: headline earnings of R17.8
The Group?s loss per share for the year is expected to be between
149.9 cents and 156.8 cents (2012: earnings per share 34.8 cents)
and headline earnings per share (HEPS) is expected to be between
25.3 cents and 32.5 cents (2012: HEPS 36.2 cents).
The forecast financial information on which this trading statement
is based has not been reviewed or reported on by the Group?s
Delta EMD?s results for the year are expected to be released on
SENS on or about 10 February 2014.
22 November 2013
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 22/11/2013 07:40:00 Supplied by www.sharenet.co.za
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