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CONTROL INSTRUMENTS GROUP LIMITED - Trading statement for financial year ended 31 December 2012

Release Date: 15/02/2013 09:00
Code(s): CNL     PDF:  
Wrap Text
Trading statement for financial year ended 31 December 2012

CONTROL INSTRUMENTS GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1964/003987/06)
Share Code: CNL
ISIN: ZAE000001665
(“Control Instruments” or “the Company” or “the Group”)


TRADING STATEMENT


In terms of the JSE Limited Listings Requirements, companies are required to publish a
trading statement as soon as it is reasonably certain that their financial results for the current
reporting period will differ from the previous corresponding period by more than 20%.

The Group having now successfully completed its restructuring and repositioning as a
focused automotive aftermarket business expects earnings per share from continuing
operations for the year ended 31 December 2012 to be between 13.50 cents and 15.40
cents, compared with an earnings per share of 6.63 cents (restated) in the previous year.

Headline earnings per share from continuing operations is expected to be between 15.00
cents and 17.20 cents, compared with a headline earnings per share of 8.20 cents (restated)
in the previous year.

The disposal of the last remaining non-performing OEM business, Pi Shurlok (Proprietary)
Limited, based in Pietermaritzburg on 7 November 2012 was reflected as part of
discontinued operations in the interim results for the six months ended 30 June 2012.

The loss per share from discontinued operations is expected to be between 37.00 cents and
41.00 cents, compared with a loss per share of 114.12 cents (restated) in the previous year.

The headline loss per share from discontinued operations is expected to be between 8.80
cents and 10.20 cents, compared with a headline loss per share of 69.71 cents (restated) in
the previous year.

In total, the loss per share is expected to be between 23.50 cents and 25.60 cents,
compared with a loss per share of 107.49 cents (restated) in the previous year while
headline earnings per share is expected to be between 6.20 cents and 7.00 cents, compared
with a headline loss per share of 61.51 cents (restated) in the previous year.

The financial information on which this trading statement is based has not been reviewed or
reported on by the Group’s auditors.

The results of the Company for the year ended 31 December 2012 are expected to be
released on SENS on or about 13 March 2013.

Cape Town
15 February 2013

Sponsor
Investec Bank Limited



15/02/2013 08:18:03 CIGL Trading Statement for Financial Year Ending 31 December 2012 FINAL.docx   Page 1 of 1

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