ILA - Iliad Limited - Trading statement

ILA - Iliad Limited - Trading statement                                         
Iliad Limited                                                                   
Incorporated in the Republic of South Africa                                    
(Registration number 1997/011938/06)                                            
Share Code: ILA  ISIN: ZAE000015038                                             
("Iliad" or "the Company")                                                      
TRADING STATEMENT                                                               
In accordance with paragraph 3.4(b) of the listings requirements of the         
JSE Limited, shareholders are advised that Iliad`s results for the six          
months ended 30 June 2011 will reflect a loss per share (LPS) of between        
210 to 215 cents per share for the period, compared to earnings of 15.1         
cents per share in 2010. This includes an impairment of intangible              
assets of R249.5 million, mainly relating to the Campwell Hardware and          
Thorpe Timber businesses.                                                       
The headline loss per share (HLPS) for the period will be between 30 and        
35 cents per share, compared to headline earnings of 14.8 cents per             
share in 2010. This includes once-off portfolio adjustment costs of             
R67.9 million relating to the  rationalisation of 9 underperforming             
stores, as well as the decision to sell the Q-Lite Lighting and SDT             
Wholesale Hinges businesses. These portfolio adjustments are excepted to        
contribute approximately 0.8% towards a recovery in the operating               
margin.                                                                         
Excluding the once-off portfolio adjustment and impairment costs, profit        
before interest and tax is expected to be between 65% and 70% lower than        
that reported for the prior comparative period. In a challenging trading        
environment, Group turnover increased by approximately 4.6% to R1,978           
billion, which was negated by an increase in total expenses of 7.1%.            
The financial information on which this trading statement is based has          
not been reviewed by the company`s auditors. The Company`s interim              
results will be released on or about 23 August 2011.                            
Johannesburg                                                                    
12th August 2011                                                                
Sponsor: Bridge Capital Advisors (Pty) Limited                                  
Date: 12/08/2011 15:00:04 Supplied by www.sharenet.co.za                     
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