COMAIR LIMITED
ÝIncorporated in the Republic of South Africa¨
(Registration number: 1967/0066783/06)
(Share code: COM)
(ISIN code: ZAE 000029823)
PROFIT WARNING
In Comair's annual report issued in August.: the Company advised that
operating margins would remain under pressure for the June 2002 financial
year. Specific concerns noted were the weaker rand, market overcapacity and
the declining passenger air travel market. In addition, the benefits of the
lower crude oil prices have been offset by the weakened rand.
These pressures have been exacerbated by the impact of the 11 September
terror attack resulting in further passenger declines and cost increases in
the second quarter of the current financial year.
Shareholders are advised that due to these adverse trading conditions, we
expect earnings for the first half to 31 December 2001 to be significantly
below the restated
11.7 cents earnings per share reported for the interim results last year
This comparative is substantially aggravated by the exceptional profit of
5,7 cents earned on the sale of an aircraft included in last year's interim
earnings per share.
Johannesburg
3 December 2001
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