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DAW - Future

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Aljo
Not applicable
Concerned about this share, the price is tumbling. Can anybody throw some light on this?
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CHATTYCHAT
Super Contributor
30 June 2016 TRADING STATEMENT In compliance with section 3.4 (b) of the Listings Requirements of the JSE Limited, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the period to be reported on next will show a 20% or more difference from the previous corresponding period. Following a year-end change from June to March in the previous reporting period, shareholders are advised that for the 12 months ended 31 March 2016: . Headline earnings per share (?HEPS?) will be 210% to 220% lower than those achieved for the nine months ended 31 March 2015. This translates to a headline loss per share of between -78,8 cents and -82,5 cents compared to the headline loss per share of -25,5 cents for the comparative nine months ended 31 March 2015. This was largely due to once-off asset write-downs in a number of businesses, necessitated by the current economic environment as well as the poor performance of certain DAWN businesses. Not all of the once-off asset write-downs can be added back in the headline earnings add-back and accordingly have had a negative impact on the headline loss per share calculation. All impairments were added back for the headline earnings calculation. . Earnings per share (?EPS?) will be -260% to -270% lower than those achieved for the nine months ended 31 March 2015, largely due to the once off net gain on the Grohe transaction included in the comparative period as well as the once-off impairments and asset write- downs in the current period for the same reasons as mentioned above. This translates to a loss per share of between -329,3 to -342,0 cents compared to the EPS of 204,7 cents for the comparative nine months ended 31 March 2015.
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