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ITE - Italtile - Trading statement Italtile Limited (Incorporated in the Republic of South Africa) (Registration number 1955/000558/06) ISIN: ZAE000003679 Share code: ITE ("Italtile" or "the group") 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 the financial results for the current reporting period will be more than 20% different from that of the previous corresponding period. In light of the aforementioned requirements, Italtile expects to announce an improvement in Profit before Tax of between 20% and 22% for the six months ended 31 December 2006. Earnings per Share and Headline Earnings per Share will reflect an improvement of between 22% and 26% over the prior comparative period. As the leading multifaceted tile and bathware retailer in South Africa, the group benefited from the sustained positive trading environment experienced by the building materials sector. Consumers continued to embrace the philosophy that the acquisition and improvement of homes is a prudent asset investment, which served as a strong growth driver and diminished the impact of interest rate increases. The group`s Italtile and CTM brands which cater across the market spectrum from cash and carry to premium end, enjoy strong consumer loyalty. The roll-out of an Emporium store model affording a broader one-stop-shop offering has been well received by the target market, whilst improved access to formal housing by greater numbers of first time consumers positively impacted on the entry level segment of the business. Benefits of investment in the group`s supply chain began to flow through during the period. Reduced reliance on third-party vendors and enhanced efficiencies improved profitability. Further gains should be realised over time. Shareholders are advised that the above information has not been reviewed or reported on by Italtile`s external auditors. The company`s results for the six months ended 31 December 2006 are expected to be released on or about 07 February 2007. Johannesburg 23 January 2007 Sponsor Nedbank Capital Date: 23/01/2007 09:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.
