KOLOSUS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration Number 1978/00181/06
("Kolosus")
PROFIT WARNING
In reporting the six months result to 31 October 2000 it was anticipated that
there would be an improvement in the future performance in the following six
months to 30 April 2001. This improvement has not materialized.
From November 2000 onwards, adverse market conditions for fresh meat and the
leather business contributed to the company's unsatisfactory financial
performance. It was anticipated that the fresh meat price would increase, but
due to the lack of consumer demand this did not occur and the company could not
recover input costs. In the leather business higher volumes and new clients
did not materialize as expected. The foot and mouth epidemic, locally and
overseas, as well as the cost of imported material contributed to material cost
increases which could not be fully recovered from existing contracts. The
financial results for the six months to April 2001 are significantly worse than
expected.
Action have been implemented to address all problem areas.
J C NELL
COMPANY SECRETARY
Pretoria 3 May 2001
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