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TORRE INDUSTRIES LIMITED - Trading statement for the year ending 30 June 2016

Release Date: 08/06/2016 17:00
Code(s): TOR     PDF:  
Wrap Text
Trading statement for the year ending 30 June 2016

TORRE INDUSTRIES LIMITED
Incorporated in the Republic of South Africa
(Registration number: 2012/144604/06)
Share code: TOR     ISIN: ZAE000188629
(“Torre” or “the Company”)


TRADING STATEMENT FOR THE YEAR ENDING 30 JUNE 2016


In terms of paragraph 3.4(b) of the JSE Limited Listings
Requirements, listed companies are required to publish a
trading statement as soon as the board of directors is
satisfied that a reasonable degree of certainty exists that
the financial results for the period to be reported on next
will vary by 20% or more when compared to those of the
previous corresponding reporting period.

Accordingly Torre herby notifies shareholders of the following
expected changes in earnings per share (“EPS”) and headline
earnings per share (“HEPS”) for the financial year ending 30
June 2016.

EPS are expected to be between 15.5 cents and 18.5 cents
(being between 34% and 45% lower) compared to the EPS of 28
cents reported for the year ended 30 June 2015.

HEPS are expected to be between 16.5 cents and 19.5 cents
(being between 36% and 45% lower) compared to the HEPS of
30.26 cents reported for the year ended 30 June 2015.

The expected EPS may be further negatively affected if
goodwill or other impairments are deemed necessary in the
course of the annual impairment assessments completed in terms
of IAS 36 as part of the year end reporting process.

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

Johannesburg
8 June 2016

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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