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VOD - Vodacom Group - Trading Statement
Vodacom Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1993/005461/06)
Share Code: VOD & ISIN ZAE000132577
("Vodacom Group" or "Vodacom")
Trading statement
In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies
are required to publish a trading statement as soon as they become reasonably
certain that the financial results for the next period to be reported upon
differ by at least 20% from those of the previous corresponding period.
Vodacom Group is in the process of finalising its annual results for the year
ended 31 March 2010, which are expected to be released on or about Monday 17 May
2010.
Headline earnings per share (`HEPS`) for the year ended 31 March 2010 are
expected to be between 20% and 25% higher, compared to HEPS of 417 cents for the
year ended 31 March 2009. Headline earnings growth was favourably impacted by
the broad-based black economic empowerment (`BBBEE`) charge of R 1 315 million
in the prior year. However, this was partially offset by losses on the
remeasurement of financial instruments and the reversal of a deferred taxation
asset of approximately R500 million largely recognised and reported on in the
six months results to 30 September 2009.
The main difference between basic earnings and headline earnings is the
impairment of goodwill. Basic earnings per share (`EPS`) for the year ended 31
March 2010 are expected to be between 25% and 35% lower compared to the EPS of
409 cents for the year ended 31 March 2009, mainly as a result of the Gateway
impairment recognised and reported on in the six months results to 30 September
2009.
The financial information on which this trading statement is based has neither
been reviewed nor reported on by Vodacom Group`s auditors.
Midrand
21 April 2010
Sponsor: UBS
Forward-looking statements
This trading statement may contain "forward-looking statements" with respect to
the Group`s financial condition, results of operations and businesses and
certain of the Group`s plans and objectives. In particular, such forward-looking
statements include statements relating to: the Group`s future performance;
future capital expenditures, acquisitions, divestitures, expenses, revenues,
financial conditions, dividend policy, and future prospects; business and
management strategies relating to the expansion and growth of the Group; the
effects of regulation of the Group`s businesses by governments in the countries
in which it operates; the Group`s expectations as to the launch and roll out
dates for products, services or technologies; expectations regarding the
operating environment and market conditions; growth in customers and usage; and
the rate of dividend growth by the Group.
Forward-looking statements are sometimes, but not always, identified by their
use of a date in the future or such words as "will", "anticipates", "aims",
"could", "may", "should", "expects", "believes", "intends", "plans" or
"targets". By their nature, forward-looking statements are inherently
predictive, speculative and involve risk and uncertainty because they relate to
events and depend on circumstances that will occur in the future, involve known
and unknown risks, uncertainties and other facts or factors which may cause the
actual results, performance or achievements of the Group, or its industry to be
materially different from any results, performance or achievement expressed or
implied by such forward-looking statements. Forward-looking statements are not
guarantees of future performance and are based on assumptions regarding the
Group`s present and future business strategies and the environments in which it
operates now and in the future.
Date: 21/04/2010 14:49:16 Supplied by www.sharenet.co.za
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