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Trading Statement December 2012

30 August 2013
(Incorporated in the Republic of South Africa)
(Registration Number 1987/003293/06)
Share code:  JSC    ISIN:  ZAE000003794
(“Jasco” or “the company” or “the group”)


Jasco hereby advises that for the six months ended 31 December 2012, the company expects:
• Earnings per share (“EPS”) to be between 55% and 60% higher (between 9,9 cents and 10,2 cents per share) than the 6,4 cents per share for the previous corresponding period.
• Headline earnings per share (“HEPS”) to be between 25% and 30% lower (between 4,8 cents and 5,2 cents per share) than the 6,9 cents per share for the previous corresponding period.

While the group’s core businesses performed satisfactorily, adverse market conditions severely impacted the performance of Lighting Structures and M-TEC, which reduced overall group profitability. With effect from 1 December 2012 Lighting Structures was sold to Jasco’s international partner in this business.

The difference between the EPS and HEPS is due to profit on the disposal of property and the loss on disposal of Lighting Structures. Both of these disposals have a once-off impact.

The information in this trading statement has not been reviewed or reported on by the Company’s external auditors.

Shareholders are advised that Jasco’s unaudited interim results will be announced on 7 February 2013.

1 February 2013

Grindrod Bank Limited