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UBU - Ububele Holdings Limited - Trading Statement

Release Date: 25/02/2011 14:47
Code(s): UBU
Wrap Text

UBU - Ububele Holdings Limited - Trading Statement Ububele Holdings Limited Incorporated in the Republic of South Africa (Registration number: 1998/011074/06) Share code: UBU ISIN Code: ZAE000144739 ("Ububele" or "the Company") TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes aware that the financial results for the next period to be reported on will show a 20% or more difference from those of the previous corresponding period. Our agriculture division operates in a highly cyclical environment and experience has shown that these cycles have a habit of shifting. In major parts of South Africa such a shift was experienced at the beginning of the current summer mainly in the summer rainfall areas. The first six months in the agricultural sector was characterised by the late start of the rainy season, particularly in the western areas of South Africa, where some areas received their first rainfall as late as early December. However, since mid-December and particularly in January, heavy rains fell in the greater South Africa, particularly in the central and eastern parts of the country, which includes the maize triangle. This resulted in sales in the agriculture division occurring later than historically experienced. The effects of the change in sales period will be felt and accounted for in the second six month period. Total sales in the agricultural division to the end of January 2011, increased substantially compared to the previous corresponding period. Ububele hereby advises that a reasonable degree of certainty exists that, for the six months ended 31 December 2010: * headline earnings will be between 3.89 cents and 5.8 cents per share or between 39% to 59% lower than that for the six months ended 31 December 2009; and * attributable earnings will be between 5.46 cents and 7.39 cents per share or between 23% to 43% lower than that for the six months ended 31 December 2009. This financial information has not been reviewed or reported on by the auditors of Ububele. The results for the six months ended 31 December 2010 will be published on or about 4 March 2011. 25 February 2011 Designated Adviser PSG Capital (Pty) Limited Date: 25/02/2011 14:47:00 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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