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Trading statement
CROOKES BROTHERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
Share code: CKS ISIN: ZAE000001434
(“Crookes” or “the company”)
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited relating
to Trading Statements, a listed company is required to publish a
trading statement as soon as it becomes aware that the financial
results for the next period to be reported on will differ by at
least 20% or more from those of the previous corresponding period.
Shareholders are advised that the company expects that, for the
six months ended 30 September 2014:
Earnings per share (“EPS”) is expected to be 66.0 cents compared
to EPS of 375.2 cents in the previous corresponding period, being
the six months ended 30 September 2013 (“previous corresponding
period”), a decline of 82.4%.
Headline earnings per share (“HEPS”) is expected to be 67.2 cents
compared to HEPS of 372.5 cents in the previous corresponding
period”), a decline of 82.0%.
The board cautions against using interim figures to project full
year earnings, due to the varying seasonality of the diverse
crop’s in the group’s portfolio.
A significant portion of the earnings decline relates to the
timing of seasonal results and of the recognition of biological
produce valuations, which will necessarily reverse in the second
half of the financial year.
The adverse impact of the timing differences is compounded by the
effect on profits of poor growing conditions and strikes in
Swaziland and start-up problems at the development project in
Mozambique.
The financial information on which this trading statement is based
has not been reviewed or reported upon by the company’s auditors.
The company’s results for the year ended 30 September 2014 are
expected to be published on or about 2 December 2014.
Renishaw
25 November 2014
Sponsor
Sasfin Capital
A Division of Sasfin Bank Limited
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