Share code: PHM & ISIN: ZAE000039269
TRADING STATEMENT FOR THE SIX MONTHS ENDED 31 JANUARY 2008
Phumelela announces that it expects headline earnings and headline earnings per
share, from continuing operating activities for the six months ended 31 January
2008 to be between 20% and 25%, higher than the prior comparative period, using
accounting policies consistent with those used in the comparative period. Due to
the favourable impact on earnings of the net proceeds of R36,3 million received
on termination of the Newmarket use agreement, included in the prior comparative
period, headline earnings per share will be between 35 % and 40% lower. Basic
earnings per share will be unchanged due to the inclusion of the surplus on
disposal of the Bloemfontein Racecourse of R27,8 million in the six months to 31
January 2008.
This trading statement has not been reviewed or reported on by Phumelela`s
external auditors. The release of the announcement of the results for the six
month period ended 31 January 2008 is expected to be on 2 April 2008.
Johannesburg
14 March 2008
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