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MVG/MVGP - Mvelaphanda Group - Trading statement in respect of the year ended 30

Release Date: 27/08/2009 11:47
Code(s): MVG MVGP
Wrap Text

MVG/MVGP - Mvelaphanda Group - Trading statement in respect of the year ended 30 June 2009 MVELAPHANDA GROUP LIMITED (Incorporated in the Republic of South Africa) Registration number 1995/004153/06 Ordinary share code: MVG Preference share code: MVGP Ordinary share: ISIN: ZAE000060737 Preference share: ISIN: ZAE000073540 ("Mvela Group" or "the company") TRADING STATEMENT IN RESPECT OF THE YEAR ENDED 30 JUNE 2009 In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will differ by at least 20% from those of the previous corresponding period. Shareholders are accordingly advised that Mvela Group`s: - headline earnings per share ("HEPS") for the year ended 30 June 2009 are expected to be between 105% and 120% higher compared to the year ended 30 June 2008; and - earnings per share ("EPS") for the year ended 30 June 2009 are expected to be between 100% and 110% higher compared to the year ended 30 June 2008.
The fair value adjustments and profit and loss from investments, excluding dividends received, amounted to a net gain of R314 million for the 2009 financial year against a loss of R1 631 million in the previous year. The improvement above contributed to the increase in HEPS and EPS. The financial information contained in this trading statement has not been reviewed or reported on by Mvela Group`s external auditors. The company`s results are expected to be released on SENS on or about Thursday, 3 September 2009. Enquiries Mvelaphanda Group 011 290 4200 Ernst Roth 011 290 4230 College Hill 011 447 3030 Nick Williams 082 600 2192 Sandton 27 August 2009 Sponsor: Deutsche Securities (SA) (Proprietary) Limited Date: 27/08/2009 11:47:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.