JOHANNESBURG - Trencor, the JSE-listed holding company that focuses on owning, leasing, managing and trading marine cargo containers worldwide, reports it would still be reporting losses for the year to December despite improving conditions in the container leasing market.
The company said yesterday this resulted from the requirement under International Financial Reporting Standards (IFRS) to further impair the container fleets owned by Textainer and TAC, while no such impairments were required by those companies reporting under US Generally Accepted Accounting Principles (GAAP).
Trencor has a 47.8 percent interest in New York Stock Exchange-listed Textainer Group Holdings and 100percent of unlisted TAC.
The company expects to report headline earnings a share of between 100c and 130c in the year to February.
This is between 123 percent and 130 percent higher than the headline loss a share of 435c the previous year. Shares in Trencor fell 1.85 percent yesterday to close at R34.55.
- BUSINESS REPORT