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BWI - B & W Instrumentation and Electrical Limited - Trading update B & W INSTRUMENTATION AND ELECTRICAL LIMITED Incorporated in the Republic of South Africa (Registration number 2001/008548/06) Share code: BWI ISIN: ZAE000098687 ("B&W" or "the group") TRADING UPDATE In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will differ by more than 20% from that of the previous corresponding period. Accordingly, a review of the financial results for the year ended 31 August 2011 by management has indicated that the loss and headline loss per share is expected to be between 5.2 and 10.9 cents, compared to the earnings and headline earnings per share of 28.5 cents for the year ended 31 August 2010. The current depressed economic environment which was particularly prevalent in the construction sector resulted in difficult trading conditions over the financial year. Combined with increased competition and lower margins the group has posted disappointing results. However, B&W have subsequently closed out the projects which put significant pressure on cashflow during the financial year and have taken steps to streamline operations. Despite the fact that difficult trading conditions are expected to continue well into 2012, the board is positive that with the measures taken to streamline operations, together with the strong order book and project pipeline, B&W can return to positive cashflow and earnings in 2012. The financial information on which this trading statement is based has not been reviewed or reported on by B&W`s auditors. B&W`s financial results are expected to be released on SENS on or about 14 November 2011. Johannesburg 27 October 2011 Designated Adviser Merchantec Capital Date: 27/10/2011 14:50:01 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.
