TIDMPTMN 
 
RNS Number : 0448N 
Petmin Limited 
10 February 2009 
 
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", "the company" or "the group") 
 
 
TRADING UPDATE 
 
 
Petmin announces a trading update for the six months ended 31 December 2008, in 
accordance with the JSE's listing requirements, which stipulate that a company 
has 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 
and headline earnings per share is expected. 
 
 
Shareholders of Petmin are hereby advised that headline earnings per share for 
the six months ended 31 December 2008 are expected to be approximately 11 cents 
per share, up from 6.38 cents per share for the six months ended 31 December 
2007, an increase in excess of 70%. This growth in headline earnings per share 
was achieved as a result of: 
 
 
1. the anthracite division delivering additional profits from increased sales 
 
  volumes and improved prices received on the export market; 
 
 
2. sales volumes at the SamQuarz silica mine increasing, largely from 
 
additional sales to the construction sector. 
 
 
Basic earnings per share for the six months ending 31 December 2008 are 
expected to be greater than 15 cents per share, down 22% from 19.30 cents per 
share for the six months ended 31 December 2007. The difference between the 
headline and basic earnings per share is due to the IFRS fair value valuation 
on the acquisition of 25% of Veremo Holdings Limited ("Veremo"), resulting in a 
share of profit of equity accounted investee of R33 million being recognised in 
the six months to 31 December 2008 compared to R62 million being recognised in 
the six months ended 31 December 2007. 
 
 
Impairment losses of R14.7 million were recognised in the six months ended 31 
December 2008 (2007: nil). The carrying value of the Springlake assets were 
impaired by R13.4 million as the proceeds emanating from the sale of Springlake 
(expected to be approximately R150 million), less costs to sell is less than 
the carrying value of Springlake in Petmin's consolidated balance sheet. 
Goodwill of R1.3 million was impaired on the acquisition of the remaining 30% 
of Petmin Logistics. 
 
 
The Company's gearing at 31 December 2008 is anticipated to be 7%. (This is 
prior to the cash inflow arising from the Springlake Sale). 
 
 
This trading statement, SENS announcement and RNS announcement has not been 
reviewed or audited by the Company's auditors. 
 
 
It is anticipated that Petmin's results to 31 December 2008 will be published 
before 3 March 2009. 
 
 
Sponsor 
River Group 
+27 12 346 8540 
Andrew Lianos/Estine van der Merwe 
 
 
For further information, please contact: 
 
 
Petmin Limited Nominated Adviser 
+27 82 459 7818 Numis Securities Limited 
Bradley Doig +44 20 7260 1000 
Chief Operating Officer John Harrison/Stuart Skinner 
 
 
UK Broker RSA Public Relations Advisers 
Numis Securities Limited Russell & Associates 
+44 20 7260 1000 +27 11 880 3924 
James Black Shelagh Blackman 
 
 
10 February 2009 
Johannesburg 
 
 
NOTE: 
 
 
The earnings number produced by international financial reporting standards 
reflects the impact of re-measurements of balance sheet items (assets and 
liabilities). IFRS earnings therefore include "capital" items, such as the 
impairment of asset values, gains and losses on disposals of subsidiaries and 
re-measurement of asset values. 
 
 
Headline earnings excludes such items to give an idea of the operating earnings 
of a company and is a reporting requirement of the JSE. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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