- May 11, 2012
- Posted by: admin
- Category: SENS Announcements
In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different than that of the previous corresponding period.
As a result of the above, HCI shareholders are informed that it is expected that for the year ended 31 March 2012, HCI`s headline earnings will be between 762 cents and 842 cents per share compared to the prior year restated headline earnings of 573 cents per share, and the basic earnings will be between 910 and 1 004 cents per share compared to 5 096 cents per share, as restated, in the prior year.
The significant increase in headline earnings per share is partly as a result of the reversal of contingent purchase consideration recognised by Tsogo Sun Holdings Limited and the recognition of a favourable settlement of claims by Seardel Investment Corporation Limited. The significant decrease in basic
earnings per share is mainly as a result of the investment surplus recognised in the prior year on the merger of the hotel and gaming interests of Tsogo Sun Holdings (Proprietary) Limited and Gold Reef Resorts Limited.
The above information has not been reviewed or reported on by the Company`s auditors. The Company`s results are expected to be published on or about 17 May 2012.