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SHF/SHFF - Steinhoff - Trading Update

Release Date: 29/08/2008 14:14
Code(s): SHF SHFF
Wrap Text

SHF/SHFF - Steinhoff - Trading Update STEINHOFF INTERNATIONAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration no. 1998/003951/06) Ordinary share code: "SHF" ISIN: ZAE000016176 ("Steinhoff") STEINHOFF INVESTMENT HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration no. 1954/001893/06) (a wholly-owned subsidiary of Steinhoff) Preference share code: "SHFF" ISIN: ZAE000068367 (collectively "the Group") Trading Update In compliance with paragraph 3.4 of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes aware, with a reasonable degree of certainty, that the financial results for the next period to be reported on will differ by at least 20% from those of the previous corresponding period. Accordingly, the Group hereby advises that, for the financial year ended 30 June 2008, Steinhoff expects headline earnings per share (HEPS) to be 20% to 25% above those reported for the previous financial year ended 30 June 2007. The group further advises that Circular 8/2007 issued by The South African Institute of Chartered Accountants (SAICA) amended the definition of HEPS, resulting in a restatement of the group`s HEPS to 200cps for the year ended 30 June 2007, down from 215cps as previously reported. Accordingly, the Group advises that HEPS is expected to increase between 27% and 32% above the restated HEPS of 200cps. The earnings per share will be marginally better, mainly as a result of an impairment charge (in respect of the current year) pertaining to Steinhoff`s associate investment in Amalgamated Appliance Holding Limited and a capital profit of 46cps which was included in the 30 June 2007 financial year relating to the sale of Steinhoff`s South African furniture manufacturing interests. The information in this trading statement has not been reviewed nor reported on by the Group`s auditors. The audited annual financial results of the Group for the year ended 30 June 2008 are expected to be released on or about 09 September 2008. Wynberg, Sandton 29 August 2008 Sponsor - PSG Capital (Pty) Limited Date: 29/08/2008 14:14:01 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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