TDH
TDH
TDH - Tradehold Limited - Announcement
TRADEHOLD LIMITED
(Registration number 1970/009054/06)
(Incorporated in the Republic of South Africa)
JSE code: TDH & ISIN: ZAE000026902
("Tradehold")
Shareholders` attention is drawn to a statement issued by Instore plc, a company
in which Tradehold has a material interest, on 13 July 2007, which appears
below:
The Board of Instore plc today gave the following update on trading for the 19
weeks ended July 7th 2007.
In the period, total Group sales increased by 4.1%, with like-for-like sales
also increasing by 4.1%. This compares to the previously announced 7.9% like-
for-like increase for the 11 weeks to May 12th 2007.
Gross margin has seen a recovering trend as a result of a cleaner inventory,
which in turn has led to lower mark-down activity.
As previously announced, Peter Burdon, formerly Chief Executive of Thorntons
Plc, took over as Chief Executive of the Company on 21st May 2007, replacing
Trevor Coates.
In addition, it was announced on May 25th 2007 that Seaham Investments Ltd had
purchased 29.78% of the issued share capital of the Company from Tradegro Ltd.
Tradegro`s holding is now 34.81%.
Chief Executive, Peter Burdon commented:
"Although our sales performance in the early weeks of the year benefited from
the favourable spring weather, particularly over the Easter period, recent
trading conditions have been much more challenging. Whilst we endeavour to
expand our range of everyday consumer products to help drive regular footfall,
the poor weather continues to have a marked impact on sales of our seasonal
ranges."
Cape Town
13 July 2007
Sponsor: Barnard Jacobs Mellet Corporate Finance (Pty) Ltd
Date: 13/07/2007 14:26:01 Produced by the JSE SENS Department.
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