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SKJ - Sekunjalo - Trading Statement - Profit Update

Release Date: 08/05/2008 10:47
Code(s): SKJ
Wrap Text

SKJ - Sekunjalo - Trading Statement - Profit Update Sekunjalo Investments Limited(Incorporated in the Republic of South Africa)(Registration number 1996/006093/06)Share code: SKJ & ISIN: ZAE000017893("Sekunjalo" or "the company") TRADING STATEMENT - PROFIT UPDATE UPDATE OF SEKUNJALO INTERIM RESULTS In terms 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 its financial results for the next reporting period will differ by 20% or more from those of the corresponding period of the previous year. The Board of Directors of Sekunjalo accordingly advises that they expect a headline loss per share and negative earnings per share for the six months ended 29 February 2008 to be between 4.45c to 5.35c and 7.60c to 9.20c per share respectively. The interim results for the half year have been negatively impacted largely due to the seasonality of Fishing and a reclassification of the Group`s Biotechnology interest. The Biotechnology interest which previously was treated as an Investment and accounted for as such is now reclassified as an Associate due to the group obtaining a significant influence over the business. Consequently, fair valuation adjustments through the income statement will now be eliminated on consolidation and thus not impact on the group Income Statement. It is anticipated that the financial results of Sekunjalo for the six months ended 29 February 2008 will be released on or about 13th May 2008. The financial information in this trading statement has not been reviewed or reported on by Sekunjalo`s Auditors. Cape Town 8 May 2008 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 08/05/2008 10:47:01 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.

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