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Trading statement
Amalgamated Appliance Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/004130/06)
Share code: AMA & ISIN: ZAE000012647
("AMAP" or "the Group")
Trading Statement
In accordance with paragraph 3.4(b) of the Listings Requirements of
the JSE Limited shareholders are advised that for the six months
ended 31 December 2012, the Group expects to release unaudited
earnings per share ("Basic EPS") and headline earnings per share
("HEPS"), within the ranges shown below:
Group Results
Expected Ranges Actual
Cents December 2012 December 2011
Basic EPS 20,8 – 21,8 29,2
HEPS 10,5 – 11,5 29,2
Commentary
The Board of AMAP is of the opinion that the Group’s trading
performance is more appropriately reflected when utilising
normalised earnings. On a normalised earnings basis excluding non-
recurring items namely, the profit on sale of the Atlantis property
of R20,3 million, 50% of the once-off costs relating to the
consultancy agreement with Russell Hobbs of R25,6 million and the
amortisation of intangibles of R2,8 million for the six months ended
31 December 2012 (Actual December 2011 recovery of losses R28,8
million), the normalised earnings per share(Normalised EPS) and
normalised headline earnings per share(Normalised HEPS)will be
within the range shown below:
Group Results
Expected Ranges Actual
Cents December 2012 December 2011
Normalised EPS 21,0 – 22,0 18,6
Normalised HEPS 21,0 – 22,0 18,7
AMAP CEO, Alan Coward, stated that, given the prevailing difficult
trading and economic conditions over this period, the trading
performance was very pleasing.
The financial information on which this trading statement is based
has not been reviewed or reported on by the Group's auditors. The
Group's unaudited interim results for the period ended 31 December
2012 are expected to be published on or about 12 March 2013.
Johannesburg
1 February 2013
Sponsor: Bridge Capital Advisors (Pty) Limited
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