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Johannesburg - Clover [JSE:CLR] Industries is currently finalising its results for the financial year ended June 30 2013, which are expected to be released on Sens on or about Tuesday, September 17 2013.
In this regard, shareholders are referred to the unaudited interim results published on March 12 2013 for the six months ended December 31 2012.
It was impacted by a number of factors that include investments in new products and platforms, as well as increases in other fixed costs, and costs associated with labour related disruptions.
The combination of these factors resulted in headline earnings per share ("Heps") and earnings per share ("EPS") being 33.5% and 23.2% lower than the corresponding prior period respectively.
During the second half of the financial year, revenue growth and the successful implementation of a number of measures across the group delivered positive results. As a result, shareholders are advised that the group now expects: - Heps to be between 0% and 5% higher than the 116.0 cents for the previous year ended June 2012 and - EPS to be between 10% and 20% higher than the 114.6c for the prior year ended June 30 2012.
The improvement is largely attributable to the implementation of selling price increases to the market during January 2013, reduced promotional activities following the selling price increases, cost saving initiatives and exchange rate profits made by certain African subsidiaries due to the weakening of the rand.
The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors.
In this regard, shareholders are referred to the unaudited interim results published on March 12 2013 for the six months ended December 31 2012.
It was impacted by a number of factors that include investments in new products and platforms, as well as increases in other fixed costs, and costs associated with labour related disruptions.
The combination of these factors resulted in headline earnings per share ("Heps") and earnings per share ("EPS") being 33.5% and 23.2% lower than the corresponding prior period respectively.
During the second half of the financial year, revenue growth and the successful implementation of a number of measures across the group delivered positive results. As a result, shareholders are advised that the group now expects: - Heps to be between 0% and 5% higher than the 116.0 cents for the previous year ended June 2012 and - EPS to be between 10% and 20% higher than the 114.6c for the prior year ended June 30 2012.
The improvement is largely attributable to the implementation of selling price increases to the market during January 2013, reduced promotional activities following the selling price increases, cost saving initiatives and exchange rate profits made by certain African subsidiaries due to the weakening of the rand.
The financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors.
