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AFRIMAT LIMITED - Trading Update for Year Ended 28 February 2013

Release Date: 23/04/2013 16:04
Code(s): AFT
Wrap Text
Trading Update for Year Ended 28 February 2013

Afrimat Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022534/06)
Code: AFT ISIN: ZAE000086302
("Afrimat" or "the Company")


TRADING UPDATE FOR THE YEAR ENDED 28 FEBRUARY 2013


In terms of the JSE Listings Requirements, companies are required to publish a trading
statement as soon as they are satisfied with a reasonable degree of certainty that the
financial results of the period to be reported upon will differ by 20% or more from the
financial results of the previous corresponding period.


Afrimat is pleased to announce that its headline earnings are expected to increase by
between 25% and 30% for the year ended 28 February 2013 (“the year”).


Headline earnings per share ("HEPS") and earnings per share (“EPS”) for the year are
expected to increase by between 20% and 25% and 7% and 12%, respectively, compared to
the previous year. HEPS and EPS were impacted to an extent by dilution as a result of
treasury shares utilised as part settlement for the Clinker Group acquisition.


All business segments have shown satisfactory profits despite tough trading conditions in
most regions of the country. This was compounded by high fuel and electricity costs and a
strike in KwaZulu-Natal in the first half of the year. The group’s industrial minerals operations
performed well and the formerly underperforming Readymix business segment achieved
higher sales volumes in the Western Cape and benefitted from successful cost reduction
initiatives.


The results of the Clinker Group are included from 1 March 2012.


The financial information on which this trading statement is based has not been reviewed by
the Company’s auditors. The Company’s financial results will be released on or about 9 May
2013.


Johannesburg
23 April 2013
Sponsor: Bridge Capital Advisors Proprietary Limited

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