KAYDAV GROUP LIMITED - Further Trading Statement

Release Date: 17/08/2017 14:35
Code(s): KDV
 
Wrap Text
Further Trading Statement

KAYDAV GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/038698/06)
JSE share code: KDV ISIN: ZAE000108940
(“KayDav” or “the Group” “the Company”)


FURTHER TRADING STATEMENT


Shareholders are referred to the trading statement released on SENS on 29 June 2017 wherein KayDav noted the
current tough macro-economic environment and trading conditions in the wood-based panel industry. This has
resulted in the Group’s sales and profit margins decreasing. The bad debt expense increased significantly as a result of
bad debts written off and increased provisions. Shareholders were advised that the company’s earnings per share and
headline earnings per share for the six months ended 30 June 2017 would decrease by at least 80%.

KayDav is now in a position to advise shareholders as follows:

    1. The loss per share for the six months ended 30 June 2017 will be 0.6 cents per share, being a decrease of
       107.9% from the earnings per share of 7.6 cents per share as reported by the company for the six months
       ended 30 June 2016.

    2. The headline loss per share for the six months ended 30 June 2017 will be 0.7 cents per share, being a
       decrease of 109.1% from the headline earnings per share of 7.7 cents per share as reported by the Company
       for the six months ended 30 June 2016.

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

The unaudited interim results for the six months ended 30 June 2017 are anticipated to be released on 22 August 2017.

17 August 2017


Sponsor
Java Capital

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