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[February 2010]
Trading Statement from South Africa's Ceramic Industries
Shareholders at Ceramic Industries in South Africa have been advised that headline earnings per share (HEPS) and basic earnings per share (EPS) for the period ended 31 January 2010 are expected to be between 30% and 35% higher than the previous corresponding reporting period.
Notwithstanding the difficult trading environment which featured continued subdued demand, Ceramic Industries achieved improved results attributable to the following factors:
- Enhanced planning by the tile factories balanced production levels and product mix with market demand, resulting in improved internal efficiencies; and,
- A substantially improved performance by the Australian operation, Centaurus.
Whilst the group’s tile factories reported a pleasing performance, Betta and Aquarius delivered disappointing results. Reduced demand in both the private and government sectors was exacerbated by strike action at Betta and operational inefficiencies. These factories remain the subject of ongoing management action.
Ceramic Industries’ results are expected to be published on SENS on or about 9 March 2010.
www.ceramic.co.za
ENDS