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Trading Statement
Protech Khuthele Holdings Limited
Registration number 2000/024352/06
JSE code: PKH ISIN: ZAE000101986
("Protech" or "the group" or “the company”)
TRADING STATEMENT
In terms of section 3.4 of the JSE Limited 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
period.
Protech is currently finalising its annual financial results for the year ended 28
February 2013 and shareholders are advised that the company expects a
basic earnings per share of between 3.9 and 4.7 cents and a headline earning
per share of between 3.5 and 4.3 cents for the period, compared to a loss per
share of 3.1 cents and headline loss per share of 1.0 cents respectively for
the year ended 29 February 2012.
The group has returned to profitability after making a loss in the prior year,
demonstrating that the turnaround process embarked upon at the beginning of
the financial year is having the planned positive impact on the performance of
the group. This has been achieved despite the company incurring once-off
costs, including ongoing professional fees incurred relating to the Eqstra
Holdings Limited’s general offer to acquire the entire issued ordinary share
capital of the company that it does not already own.
With the strategic and operational fundamentals now in place, management
expects this trend to gain momentum in the near to medium-term.
The turnaround strategy is focused on six strategic pillars namely; (1)
changing the organisational culture and skills set; (2) formulating and
executing clear, measurable business objectives; (3) implementing robust
financial management, systems and controls; (4) renewing operational focus;
(5) identifying strategic markets both inside and outside of South Africa and
finally (6) introducing comprehensive information systems. All key metrics,
including the scorecard measures for these strategic pillars, are trending
positively and the business is well positioned for continued growth and
profitability.
The financial information in this trading statement has been compiled by
Protech directors using the accounting policies of Protech for the year ended
28 February 2013. This trading statement is the sole responsibility of the
Protech directors.
The financial information in this trading statement has been reviewed by the
company’s auditors, Deloitte & Touche, and their unmodified report thereon is
available for inspection at the company’s registered office during office hours
until the publication date of its results as set out below.
The company`s audited annual financial results for year ended 28 February
2013 are expected to be published on SENS on or about 20 May 2013.
Lanseria
13 May 2013
Sponsor
Deloitte & Touche Sponsor Services Proprietary Limited
Date: 13/05/2013 03:36:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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