To view the PDF file, sign up for a MySharenet subscription.

BASIL READ HOLDINGS LIMITED - Traing Update

Release Date: 06/06/2014 16:45
Code(s): BSR     PDF:  
Wrap Text
Traing Update

Basil Read Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1984/007758/06)
Share Code: BSR ISIN: ZAE 000029781
(“Basil Read” or Group”)

TRADING UPDATE

Shareholders are advised that Basil Read expects its earnings
per share for the six months ending 30 June 2014 to be a
minimum of 135% lower compared to the previously reported
corresponding period.

Shareholders are further advised that Basil Read expects its
headline earnings per share for the six months ending 30 June
2014 to be a minimum of 270% lower compared to the previously
reported corresponding period.

The comparative results to June 2013 include the profit on
disposal of the TWP group in the amount of R183 million.

Earnings and headline earnings have been negatively affected
by loss-making contracts in the roads and civil engineering
divisions due to ongoing challenging conditions. For certain
of these contracts, the group is currently finalising claims
to be submitted, but has not included any of these claims
and/or possible penalties in projecting the estimated earnings
and headline earnings decline.

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

The group’s interim results for the six months ending 30 June
2014 will be published on or about 27 August 2014.

UPDATE REGARDING DIVIDEND

Shareholders are referred to the results announcement on 26
March 2014 in which the group indicated that deliberations
regarding a possible dividend were continuing. Shareholders
are now advised that the board has decided not to declare a
dividend in relation to the year ended 31 December 2013.


Johannesburg
06 June 2014


JSE Sponsor
Macquarie First South Capital (Pty) Limited

Date: 06/06/2014 04:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story