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BAW/BAWP - Barloworld Limited - Trading statement

Release Date: 09/05/2012 14:47
Code(s): BAW BAWP
Wrap Text

BAW/BAWP - Barloworld Limited - Trading statement Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (JSE ISIN: ZAE000026647) (Bond issuer code: BIBAW) ("Barloworld" or "the Company") TRADING STATEMENT The group has continued its strong performance for the first six months to 31 March 2012, with headline earnings per share (HEPS) expected to be 65% to 75% higher than the comparable earnings of last year. Operating results in Equipment southern Africa and Russia for the six months were strongly up driven mainly by demand in the mining sector. Construction activity in Angola has continued to improve. In Iberia trading conditions remain very weak and the operating result to March included further restructuring costs to realign the cost base. The Automotive and Logistics division performed well. All business units improved their result on the prior period. The Handling division continued its year on year trading improvement but after currency impact operating profits were flat. Basic earnings per share are expected to be 15% to 25% higher than last year`s comparable earnings, which is lower than the growth in HEPS, due mainly to exceptional gains in the prior year. The increased trading activity in most of our regions has led to higher working capital and net interest-bearing debt, but we remain within our target ranges. Barloworld Limited expects to announce its results for the six months to 31 March 2012 on 21 May 2012. This financial information has not been reviewed or reported on by Barloworld`s auditors. Sandton Sponsor: 9 May 2012 J.P. Morgan Equities Ltd. About Barloworld Barloworld is a distributor of leading international brands providing integrated rental, fleet management, product support and logistics solutions. The core divisions of the group comprise Equipment (earthmoving and power systems), Automotive and Logistics (car rental, motor retail, fleet services, used vehicles and disposal solutions, logistics management and supply chain optimisation) and Handling (materials handling and agriculture). We offer flexible, value adding, integrated business solutions to our customers backed by leading global brands. The brands we represent on behalf of our principals include Caterpillar, Hyster, Avis, Audi, BMW, Ford, General Motors, Mercedes-Benz, Toyota, Volkswagen and others. Barloworld has a proven track record of long-term relationships with global principals and customers. We have an ability to develop and grow businesses in multiple geographies including challenging territories with high growth prospects. One of our core competencies is an ability to leverage systems and best practices across our chosen business segments. As an organisation we are committed to sustainable development and playing a leading role in empowerment and transformation. The company was founded in 1902 and currently has operations in 26 countries around the world with approximately 60% of our eighteen thousand employees in South Africa. Corporate information Registered office and business address Barloworld Limited, 180 Katherine Street PO Box 782248, Sandton, 2146, South Africa Tel +27 11 445 1000 Email invest@barloworld.com Directors Non-executive: DB Ntsebeza (Chairman), SAM Baqwa, AGK Hamilton*, SS Mkhabela, B Ngonyama, SS Ntsaluba, TH Nyasulu, NP Dongwana, G Rodriguez de Castro de los Rios+, SB Pfeiffer Executive: CB Thomson (Chief Executive), PJ Blackbeard, PJ Bulterman, M Laubscher, OI Shongwe, DG Wilson *British +Spanish American Group company secretary: Bethuel Ngwenya Enquiries: Barloworld Limited: Jacey de Gidts Tel +27 11 445 1000 E-mail invest@barloworld.com College Hill: Jacques de Bie, Tel +27 11 447 3030 E-mail Jacques.deBie@collegehill.co.za For background information visit www.barloworld.com Date: 09/05/2012 14:47:01 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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