BAW/BAWP - Barloworld Limited - Trading statement
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(JSE ISIN: ZAE000026639)
(Share code: BAWP)
(JSE ISIN: ZAE000026647)
(Bond issuer code: BIBAW)
("Barloworld" or "the Company")
The group has continued its strong performance for the first six months to
31 March 2012, with headline earnings per share (HEPS) expected to be 65% to
75% higher than the comparable earnings of last year.
Operating results in Equipment southern Africa and Russia for the six months
were strongly up driven mainly by demand in the mining sector. Construction
activity in Angola has continued to improve. In Iberia trading conditions
remain very weak and the operating result to March included further
restructuring costs to realign the cost base.
The Automotive and Logistics division performed well. All business units
improved their result on the prior period.
The Handling division continued its year on year trading improvement but
after currency impact operating profits were flat.
Basic earnings per share are expected to be 15% to 25% higher than last
year's comparable earnings, which is lower than the growth in HEPS, due
mainly to exceptional gains in the prior year.
The increased trading activity in most of our regions has led to higher
working capital and net interest-bearing debt, but we remain within our
Barloworld Limited expects to announce its results for the six months to
31 March 2012 on 21 May 2012.
This financial information has not been reviewed or reported on by
9 May 2012 J.P. Morgan Equities Ltd.
Barloworld is a distributor of leading international brands providing
integrated rental, fleet management, product support and logistics
solutions. The core divisions of the group comprise Equipment (earthmoving
and power systems), Automotive and Logistics (car rental, motor retail,
fleet services, used vehicles and disposal solutions, logistics management
and supply chain optimisation) and Handling (materials handling and
agriculture). We offer flexible, value adding, integrated business solutions
to our customers backed by leading global brands. The brands we represent on
behalf of our principals include Caterpillar, Hyster, Avis, Audi, BMW, Ford,
General Motors, Mercedes-Benz, Toyota, Volkswagen and others.
Barloworld has a proven track record of long-term relationships with global
principals and customers. We have an ability to develop and grow businesses
in multiple geographies including challenging territories with high growth
prospects. One of our core competencies is an ability to leverage systems
and best practices across our chosen business segments. As an organisation
we are committed to sustainable development and playing a leading role in
empowerment and transformation. The company was founded in 1902 and
currently has operations in 26 countries around the world with approximately
60% of our eighteen thousand employees in South Africa.
Registered office and business address
Barloworld Limited, 180 Katherine Street
PO Box 782248, Sandton, 2146, South Africa
Tel +27 11 445 1000
Non-executive: DB Ntsebeza (Chairman), SAM Baqwa, AGK Hamilton*,
SS Mkhabela, B Ngonyama, SS Ntsaluba, TH Nyasulu, NP Dongwana,
G Rodriguez de Castro de los Rios+, SB Pfeiffer
Executive: CB Thomson (Chief Executive), PJ Blackbeard, PJ Bulterman,
M Laubscher, OI Shongwe, DG Wilson
*British +Spanish American
Group company secretary: Bethuel Ngwenya
Enquiries: Barloworld Limited: Jacey de Gidts
Tel +27 11 445 1000
College Hill: Jacques de Bie, Tel +27 11 447 3030
For background information visit www.barloworld.com
Date: 09/05/2012 14:47:01 Produced by the JSE SENS Department.
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