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WNH - Winhold Limited - Trading Statement WINHOLD LIMITED (Incorporated in the Republic of South Africa) (Registration number 1945/019679/06) Share Code: WNH ISIN: ZAE000033916 ("the company") TRADING STATEMENT In terms of the listings requirements of the JSE Limited, a company is required to advise shareholders when it is reasonably certain that its results will differ by more than 20% over the corresponding reporting period. Accordingly a review by management has indicated a reduction in headline earnings per share for the year ended 30 September 2011 and is expected to be between 9.5 and 10.5 cents per share (2010 20.7 cents). This reduction is a result of several factors, which management has already taken action on to address. Full details will be provided in the results announcement expected to be published on 28th of November, but include: 1 The Inmins value-add division had a very disappointing year enduring stock outs, contract suspensions, stock and contracts write offs and provisions relating to prior years. A new management team is in place revitalizing and re-engineering the product offering, rebuilding relationships with key customers and maximizing shareholder value out of the large stock holding. 2 The Gundle manufacturing operations also had a very disappointing second six months enduring worse than expected trading losses in the Easter holiday period, SEIFSA wage renegotiation strikes at both its own operations and more severely at its customers. Plant shut downs at a major supplier limited the supply of raw material during the post strike recovery period and raw material price increases could not be passed onto customers quickly enough. Good labour relations limited the effect of the strike in the factory and management has a strategy to increase margins and reduce costs in the next 6 months. The remainder of the operations performed, in total, in line with last year with some of the operations out performing the previous year helping counter the effects of a tough trading half as a result of the above mentioned strikes, Easter trading day reductions and a general level of uncertainty resulting in customers holding back on development projects. Shareholders are advised that the financial information on which this trading statement is based has not been reviewed or reported on by the Group`s external auditors. By order of the board. G J O`Connor Company Secretary Germiston 4 November 2011 Sponsor Arcay Moela Sponsors (Proprietary) Limited Date: 04/11/2011 16:56:01 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.
