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ART - Argent - Trading Statement

Release Date: 27/05/2009 12:43
Code(s): ART
Wrap Text

ART - Argent - Trading Statement Argent Industrial Limited (Registration number 1993/002054/06) (Incorporated in the Republic of South Africa) Share Code: ART & ISIN: ZAE000019188 ("Argent" or "the company") TRADING STATEMENT In compliance with paragraph 3.4 of the Listing Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next period to be reported on will differ by at least 20% from those of the previous reported period. Argent wishes to advise shareholders that the earnings per share and headline earnings per share for the year ending 31 March 2009 are expected to decrease between 44% and 49% from the corresponding period ending 31 March 2008. The primary reasons for this decrease in earnings per share and headline earnings per share is as a result of the Automotive and Steel Divisions being severely affected by the slowdown in these industries as a result of the global financial crisis. In terms of IAS 2 it has also been necessary to write down the steel inventory as a result of the average price decrease of 55% in our steel product range since September 2008. The financial information on which this trading statement has been based has not been reviewed or reported on by the group`s auditors. Umhlanga 27 May 2009 Sponsor: Investec Bank Limited Date: 27/05/2009 12:43:02 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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