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YORK TIMBER HOLDINGS LIMITED - Trading statement and trading update

Release Date: 12/09/2018 12:35
Code(s): YRK     PDF:  
Wrap Text
Trading statement and trading update

York Timber Holdings Limited
Incorporated in the Republic of South Africa)
(Registration number 1916/004890/06)
Share code: YRK
ISIN: ZAE000133450
(“York” or “the Company”)


York is in the process of finalising its results for the year
ended 30 June 2018 for release prior to 30 September 2018.

In terms of paragraph 3.4(b) of the Listings Requirements of
the JSE Limited, 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 previous corresponding period.

Shareholders are advised that earnings per share (“EPS”) and
headline earnings per share (“HEPS”) are expected to decrease
from 116.0 cents to between 40.6 cents and 46.4 cents, for
the year ended 30 June 2018. EPS and HEPS are expected to be
between 60% and 65% lower than the previous corresponding
period, as a result of the fair value adjustment on biological
assets being lower than in the previous financial year.

Furthermore, Shareholders are advised that:

-   The biological asset valuation at 30 June 2018 is likely
    to be between 2% and 4% higher than the balance of
    R2.8 billion at the previous corresponding period.

-   Core earnings per share (based on EPS attributable to
    ordinary shareholders less the fair value adjustment to
    the biological assets, net of tax) are expected to increase
    from 17.0 cents to between 26.9 cents and 27.9 cents. This
    is as a result of an increase in operating profit due to
    a reduction in external log purchases.

-   Earnings   before   interest,   taxation,  depreciation,
    amortisation and fair value adjustments are expected to
    be between 8% and 13% higher than the amount in the
    previous financial year of R246.1 million.

Shareholders are advised that the information included in
this announcement has not been reviewed or reported on by the
Company’s auditors and is the responsibility of the directors
of the Company.

Sabie, Mpumalanga
12 September 2018

One Capital

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