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YORK TIMBER HOLDINGS LIMITED - Trading statement and trading update

Release Date: 05/09/2019 17:00
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”)

TRADING STATEMENT AND TRADING UPDATE

York is in the process of finalising its results for the year
ended 30 June 2019 for release prior to 30 September 2019.

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”) are
expected to decrease from 44.0 cents to be between (9.68)
cents and (11.88) cents and headline earnings per share are
expected to increase from 46.0 cents to be between 48.76 cents
and 51.06 cents (being an increase of between 6% and 11%) for
the year ended 30 June 2019. The fair value adjustment on
the biological asset is expected to be between 160% and 165%
higher than the prior year adjustment of R77 million, as a
result of changes to the volume adjustment percentages.
Earnings were also impacted as a result of the operating loss
caused by industrial action during the first half of the
financial year.

Furthermore, Shareholders are advised that for the year ended
30 June 2019:

-   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 decrease
    from 27.0 cents to between 7.56 cents and 8.91 cents. This
    is as a result of a decrease in operating profit caused
    by industrial action during the first half of the financial
    year.

-   Earnings   before   interest,   taxation,  depreciation,
    amortisation and fair value adjustments are expected to
    be between 25% and 30% lower than that reported in the
    comparative period of R276.2 million.

-   Cash generated from operations is expected to be between
    20% and 25% lower than the R286.4 million reported for the
    comparative period.

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
5 September 2019

Sponsor
One Capital

Date: 05/09/2019 05:00:00
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