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CLR/CLRP - Clover Industries Limited - Trading Statement

Release Date: 08/09/2011 10:00
Code(s): CLR CLRP
Wrap Text

CLR/CLRP - Clover Industries Limited - Trading Statement CLOVER INDUSTRIES LIMITED (Incorporated in the Republic of South Africa) (Registration number 2003/030429/06) Ordinary Share code: CLR ISIN: ZAE000152377 Preference Share Code: CLRP ISIN: ZAE000152385 ("Clover Industries" or "the Company") TRADING STATEMENT In terms of the Listings Requirements of the JSE Limited, companies are obliged to provide guidance to the market when they are satisfied that a reasonable degree of certainty exists that the financial results for a reporting period will differ by at least 20% from the results of the previous corresponding reporting period. 2009/10 2009/10 2010/11 % % variance
Pro Forma Actual Forecast variance from 2009/10 from Actual 2009/10 Pro
Forma R`m R`m R`m Earnings from 292.6 298.7 179.6 -38.6% -39.9% continuing operations Earnings 324.8 330.8 179.6 -44.7% -45.7% Headline earnings from 12.9 19.0 175.2 1258.1% 822.1% continuing operations Headline earnings 45.1 51.1 175.2 288.5% 242.9% Weighted average 202 719 154 595 153 882 ordinary shares in 048 442 447 issue Cents per Cents per Cents per share share share
EPS from continuing 144.36 193.21 116.71 -19.2% -39.6% operations EPS 160.20 213.99 116.71 -27.1% -45.5% HEPS from continuing 6.38 12.29 113.84 1684.3% 826.3% operations HEPS 22.23 33.07 113.84 412.1% 244.2% The comparative (2010) HEPS and EPS are the pro forma results as disclosed in the Prelisting Statement issued on 29 November 2010 and comprise of the 2009/10 actual results adjusted for the effects of the Initial Public Offer (IPO) as if the IPO occurred on 1 July 2009. The weighted average number of ordinary shares used to calculate the 30 June 2010 HEPS and EPS were adjusted to take into consideration the 2 for 1 subdivision of the ordinary shares effective on the 4th of November 2010. 2009/10 2010/11 % Actual Forecast variance R`m R`m
Normalised earnings from 187.6 191.8 2.2% continuing operations Shareholders are advised that the forecasted results for 2010/11 on which this trading statement is based have not been reviewed and reported on by the Company`s external auditors. It is anticipated that Clover Industries will release its 2011 financial results on SENS on or about 19 September 2011. Johannesburg 8 September 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 08/09/2011 10:00:01 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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