PTMN Petmin

 

TIDMPTMN 
 
RNS Number : 4360H 
Petmin Limited 
22 February 2010 
 
PETMIN LIMITED 
Incorporated in the Republic of South Africa 
Registration Number 1972/001062/06 
Share Code JSE: PET ISIN: ZAE000076014 
Share Code AIM: PTMN 
("Petmin" or "the Company") 
 
Trading statement 
 
The 2009 calendar year has been the most difficult year experienced in Petmin's 
history because of the turmoil in the worldwide financial markets and its 
consequential impact on the world commodity markets. Despite this, during the 
six months ended 31 December 2009, Petmin's operations maintained healthy profit 
margins and were cash generative. 
 
The JSE`s listing requirements stipulate that a company is required to publish 
a trading statement if an increase or decrease of more than 20% (compared with 
the previous reporting period) in its basic earnings per share ("EPS") and 
headline earnings per share ("HEPS") is expected. 
 
The shareholders of Petmin are hereby advised that HEPS for the six months 
ended 
 31 December 2009 are expected to be 8.28 cents per share, down by 30% 
from the 
 11.82 cents per share for the six months ended 31 December 2008. If 
the results 
 of Springlake Colliery, which was sold in June 2009, are 
excluded from the 
comparative period, Headline Earnings per share increased 10% on a like for like 
basis. 
 
EPS for the six months ended 31 December 2009 are expected to be 8.28 cents per 
share, down from 15.15 cents per share for the six months ended 31 December 
2008, 
a decrease of 45%. This decrease is due to the comparative period including 
income 
of R23m generated by Springlake (4.27 cents), once-off income of R33 million 
(6.06 cents) resulting from the fair value adjustment in terms of IFRS on the 
acquisition 
of Petmin's initial investment in Veremo Holdings (Pty) Ltd, and once-off 
impairment charges mainly relating to the sale of Springlake amounting to R15 
million (2.71 
cents). 
 
The table below summarizes the impact of Springlake on the comparative figures. 
 
Six months            Six months                Six months 
                   Ended                 ended                     ended 
             31 December           31 December               31 December 
                    2009                  2008                      2008 
               Excluding             Excluding                 Including 
              Springlake            Springlake                Springlake 
HEPS                8.28                  7.55                     11.82 
EPS                 8.28                 13.37                     15.15 
 
Petmin has a healthy balance sheet with cash resources of approximately R 145 
million and unutilized facilities at or below prime of R 150 million and has 
built a stable 
platform from which to launch and execute its strategy to significantly increase 
the size of Petmin and to provide superior returns to our shareholders. 
 
This trading statement, SENS announcement and RNS announcement has not been 
reviewed or audited by the Company's auditors. 
 
Petmin's reviewed results are expected to be published on SENS and RNS on 1 
March 2010. 
 
Enquiries: 
 
Petmin 
Bradley Doig (COO) 
+27 824 597 818 
 
Nominated Advisor (AIM) 
Numis Securities Limited 
John Harrison 
+44 207 260 1000 
 
Sponsor and Corporate Advisor (JSE) 
River Group 
Andrew Lianos 
+27 834 408 365 
 
22 February 2009 
Johannesburg 
 
Sponsor 
River Group 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 TSTUKSNRRRAUAAR 
 

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