M & S HOLDINGS LIMITED - Trading Statement

Trading Statement

M&S Holdings Limited
(Formerly Top Fix Holdings Limited)
(Incorporated in the Republic of South Africa)
(Registration number: 2006/011359/06)
Share code: MSA
ISIN code: ZAE000088423
("M&S" or "the Company")


TRADING STATEMENT

In terms of paragraph 3.4 (b) of the JSE Limited (“JSE”)
Listings Requirements, companies are required to publish
a trading statement as soon as they become reasonably
certain that the financial results for the period to be
reported on next will differ by at least 20% from those
of the previous corresponding period.

M&S shareholders are accordingly advised that:


    -Earnings per share for the year ended 30 June 2012
    are expected to decrease from 4,9 cents for the year
    ended 30 June 2011 to a loss per share of more than
    30 cents mainly due to   an   impairment   recognised
    within the scaffolding business operations and the
    sale of the scaffolding business as set out in more
    detail in the Circular to M&S shareholders dated 23
    April 2012;


    -Earnings per share from continued operations for the
    year ended 30 June 2012 are expected to decrease from
    11,6 cents per share for the year ended 30 June 2011
    to approximately 9,3 cents;
    -Headline earnings per share for the year ended 30
    June 2012 are expected to decrease from 6,8 cents for
    the year ended 30 June 2011 to a headline loss per
    share of approximately 1 cent; and


    -Headline earnings per share from continued
    operations for the   year   ended 30 June 2012 are
    expected to decrease from 11,6 cents for the year
    ended 30 June 2011 to approximately 9,7 cents.


The financial information on which this trading statement
is based has not been reviewed or reported on by M&S’s
auditors and the financial results are expected to be
published on or about 28 September 2012.


Johannesburg
21 September 2012


Designated Advisor:
Sasfin Capital
(a division of Sasfin Bank Limited)

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