ILA - Iliad Africa Limited - Trading Statement

ILA - Iliad Africa Limited - Trading Statement                                  
Iliad Africa Limited                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1997/011938/06)                                            
Share code: ILA & ISIN: ZAE000015038                                            
("Iliad" or "the Company")                                                      
TRADING STATEMENT                                                               
In accordance with paragraph 3.4(b) of the listings requirements of the JSE     
Limited, shareholders are advised that Iliad`s results for the year ended       
31 December 2011 will reflect a loss per share (LPS) of between 170 to 180      
cents per share for the year, compared to earnings of 38.8 cents per share      
in 2010. As reported through our SENS releases dated 12 August 2011 and 23      
August 2011, these results include an impairment of intangible assets of        
R249.5 million, mainly relating to the Campwell Hardware and Thorpe Timber      
businesses.                                                                     
The headline earnings per share (HEPS) for the year will be between 9 and       
10 cents per share, compared to the headline earnings of 39.1 cents per         
share in 2010. The full year HEPS of between 9 and 10 cents per share           
represents a significant improvement on the interim result for the period       
ended 30 June 2011 (Headline loss per share - 32.0 cents per share). The        
headline earnings for the year include once-off portfolio adjustment costs      
of approximately R 46 million relating to the rationalisation of                
underperforming stores.                                                         
Excluding the once-off portfolio adjustment and impairment costs, EBITDA is     
expected to be between 0% and 5% lower than that reported for the prior         
year, and the relevant EBITDA increase on the comparative period in the         
second half of the year is between 18% and 22%. In a challenging trading        
environment, Group turnover for the year increased by between 7% and 8%,        
with comparable second half turnover growth of between 10% and 11%. Lower       
than inflation increases were experienced in comparable year-on-year            
expenses.                                                                       
The financial information on which this trading statement is based, has not     
been reviewed by the company`s auditors. The Company`s results will be          
released on or about 27 March 2012.                                             
28 February 2011                                                                
Johannesburg                                                                    
Sponsor: Bridge Capital Advisors (Pty) Limited                                  
Date: 28/02/2012 16:24:01 Supplied by www.sharenet.co.za                     
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