MZR - Mazor Group Limited - Trading Update

MZR - Mazor Group Limited - Trading Update                                      
Mazor Group Limited                                                             
(Incorporated in the Republic of South Africa)                                  
(Registration number 2007/017221/06)                                            
Share code: MZR    ISIN: ZAE000109823                                           
("Mazor" or "the Company")                                                      
TRADING UPDATE                                                                  
In accordance with paragraph 3.4 (b) of the Listings Requirements of the JSE    
Limited, shareholders are advised that the Company`s earnings and headline      
earnings per share for the six month period ended 31 August 2010 will be at     
least 70% lower than the reported earnings and headline earnings per share for  
the prior comparative period. This decline is largely attributable to           
continued low activity within the construction sector in South Africa and, in   
particular, the Western Cape. Excess capacity within the sector has resulted    
in price pressures, thus leading to lower margins.  The company has completed   
its rationalisation process in line with current economic conditions.  Labour   
costs have been adjusted to meet current demand conditions.                     
Within our contracting divisions, the company is currently operating in other   
African countries including Namibia, Malawi and Nigeria. The focus being        
primarily on private development in which financing is secure.  These           
contracts will reflect in the year-end results. Trading divisions within Mazor  
(Hulamin Building Systems, Compass Glass and Independent Glass) continue to     
increase volumes and capture market share.                                      
Mazor is now well positioned to benefit from an improving macro environment     
within the South African economy. We believe that current monetary conditions   
including the interest rate cycle are conducive to increased activity within    
the construction sector.                                                        
At this stage, the directors are unable to quantify, with any degree of         
certainty, the expected earnings and headline earnings per share for the six    
months ended 31 August 2010 and will publish a further announcement containing  
such detail in due course.                                                      
The financial information on which this trading update is based has not been    
reviewed by the Company`s auditors.                                             
The Company`s interim results for the six months ended 31 August 2010 will be   
released on or about 10 November 2010.                                          
Cape Town                                                                       
21 September 2010                                                               
Sponsor: Bridge Capital Advisors (Pty) Limited                                  
Date: 21/09/2010 10:50:01 Supplied by www.sharenet.co.za                     
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