ASO - Austro Group Limited - Trading Update

ASO - Austro Group Limited - Trading Update                                     
Austro Group Limited                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 2001/029771/06)                                            
Share code: ASO ISIN: ZAE000090882                                              
("Austro")                                                                      
TRADING UPDATE                                                                  
In terms of the Listings Requirements of the JSE Limited, companies are         
required to publish a trading statement as soon as they are satisfied that a    
reasonable degree of certainty exists that the financial results for the        
period to be reported upon next will differ by at least 20% from the previous   
corresponding period.                                                           
Shareholders are referred to the trading update released on SENS on 29 March    
2011 and are advised that there is now a reasonable degree of certainty that    
the headline earnings per share and earnings per share for the six months       
ended 28 February 2011 will be between 55% to 65% lower than the headline       
earnings per share and earnings per share for the six months ended 28           
February 2010.                                                                  
Some of the major negative variances affecting this comparison include the      
introduction of rent straight-lining in respect of some of the Group`s leased   
buildings, incremental rental costs as a result of the occupation of new        
buildings, an inventory write-off and provision for a significant potential     
bad debt. The items specified amount in aggregate to R16.4m before tax. The     
major positive variances softening the negative variances mentioned relate to   
net interest and taxation.                                                      
The information on which this trading statement has been based has not yet      
been reviewed or reported on by the company`s auditors.                         
11 May 2011                                                                     
Sponsor                                                                         
Java Capital                                                                    
Date: 11/05/2011 16:21:01 Supplied by www.sharenet.co.za                     
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