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Sharenet Sites
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 year.
DAWN shareholders are advised that, for the year ended 30 June 2012, the Group expects:
- Headline earnings per share (“HEPS”) to increase by between 123%-143% to 36,4
cents per share to 39,7 cents per share compared to HEPS of 16,3 cents per share
for the previous corresponding year; and
- Earnings per share (“EPS”) to be between 34,2 cents per share and 36,8 cents per
share compared to the loss per share of 13,0 cents per share in the previous
corresponding year.
The increase in EPS is mainly attributable to the improved results from the Infrastructure
segment of the Group. Group operating profit is expected to be between R155 million and
R165 million compared to the published operating profit of R33 million for the previous
corresponding year. It must be noted that, during the previous year, impairments and once-
off charges of R68,7 million were incurred. The operating profit in financial 2011 prior to
these impairments and once-off charges amounted to R101,8 million.
Despite the continued subdued trading environment in the building sector, the operating
profit of the Group’s Building segment is expected to show a small decline compared to the
previous year operating profit prior to the impact of impairments and once-off charges.
The Infrastructure segment continued to deliver an improved performance, particularly at
DPI and Incledon, and returned to profit for the year under review. The bulk of this
improvement came through in the 2nd half of financial 2012 in response to the corrective
actions that have been set in place over the past three years.
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
13 September 2012.
Johannesburg
15 August 2012
Sponsor
Deloitte & Touche Sponsor Services (Proprietary) Limited
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