Steers Holdings Limited
(Registration number 1969/004875/06)
("the Group")
Share Code: STE ISIN Code: ZAE000008330
Profit Warning
Shareholders are advised that the Group's earnings for the six months ended
31 August 2001 will be lower that the earnings reported during the
comparable period last year.
The main reasons for this decline are as follows:
1) Additional costs incurred in the outsourcing of the Store Development
Business Unit;
2) The underperformance of certain business units within the Manufacturing
and Distribution Division;
3) Tough trading conditions in the retail industry; and
4) Lower than expected store growth, mainly as a result of a decrease in
the development of retail space.
In spite of the above, the major operating business units of the Group
continue to trade profitably. The Board is cautiously optimistic that the
Group is well positioned to take advantage of its traditionally busiest
period in the coming months.
Shareholders are accordingly advised to exercise caution when dealing in the
securities of the company. The interim results will be published towards
the end of October 2001.
Johannesburg
28 September 2001
Steers Sponsor
HSBC
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