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DAW - Distribution and Warehousing Network Limited - Trading Statement

Release Date: 14/02/2012 14:20
Code(s): DAW
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DAW - Distribution and Warehousing Network Limited - Trading Statement Distribution and Warehousing Network Limited (Incorporated in the Republic of South Africa) (Registration number 1984/008265/06) Share code: DAW & ISIN code: ZAE000018834 ("DAWN" or "the Group") Trading Statement In compliance with section 3.4(b) of the JSE Listings Requirements, 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 be more than 20% different from that of the previous corresponding period. DAWN shareholders are accordingly advised that, for the six months ended 31 December 2011, the Group expects: - Headline earnings per share ("HEPS") to be between 19,8 cents per share to 20,6 cents per share (30%-35% up) compared to HEPS of 15,2 cents per share for the previous corresponding period; and - Earnings per share ("EPS") to be between 19,9 cents per share and 20,6 cents per share (45%-50% up) compared to the EPS of 13,7 cents per share in the previous corresponding period. The increase in EPS is mainly attributable to the improved results from the Infrastructure segment of the Group. Group operating profit is expected to amount to between R80 million and R85 million compared to the published operating profit of R63 million for the previous corresponding period. Despite the continued subdued trading environment in the building sector, the operating performance of the Group`s Building segment was fair and operating profit was maintained around the same levels as those achieved in the first half of financial 2011. The Infrastructure segment delivered an improved performance, particularly at DPI and Incledon, and returned to profit in the period under review. The Group has complied with all debt covenants imposed by its lenders at 31 December 2011 and accordingly the term debt payable beyond 12 months will be classified as non-current. The financial information on which this trading statement is based has not been reviewed or reported on by DAWN`s auditors. The Group`s results will be released on SENS on or about 15 March 2012. Johannesburg 14 February 2012 Sponsor Deloitte & Touche Sponsor Services (Proprietary) Limited Date: 14/02/2012 14:20:01 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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