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Trading Statement
Chemical Specialities Limited
Incorporated in the Republic of South Africa
Registration number 2005/039947/06
Share code: CSP
ISIN: ZAE000109427
("Chemspec" or "the Company")
TRADING STATEMENT
In terms of the JSE Limited Listings Requirements, companies are required
to publish a trading statement as soon as they are satisfied that a
reasonable degree of certainty exists that the financial results for the
period to be reported upon next will differ by at least 20% from the
financial results for the previous corresponding period.
ChemSpec continues to achieve double digit revenue growth and in
conjunction with its focus on revenue growth has embarked on an austerity
plan to discontinue certain retail and manufacturing facilities which will
substantially reduce overheads. These austerity plans will be completed in
the 3rd quarter of this financial year.
These actions have resulted in an improvement in the continuing operating
loss line item excluding other income. The on-going drive to grow revenue
and reduction in overheads will continue to improve the bottom line result
in the future.
Shareholders are, however, advised that, for the six months ended 30
September 2013, ChemSpec expects that the headline loss will be between
2.97 cents per share and 2.43 cents per share when compared to the headline
earnings of 0.09 cents per share reported in the previous corresponding
period. The basic loss per share is expected to be between 2.99 cents per
share and 2.45 cents per share when compared to the basic earnings of 0.09
cents per share as reported in the previous corresponding period.
The information on which the above trading statement has been provided has
not been reviewed or reported on by the company’s auditors.
The interim results for the six months ended 30 September 2013 are expected
to be released on SENS on or about 30 October 2013.
Durban
21 October 2013
Designated Advisor
Grindrod Bank Limited
Date: 21/10/2013 02:49:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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