Restructuring and trading update
Rex Trueform Clothing Company Limited
(Registered in the Republic of South Africa)
(Registration number 1937/009839/06)
Share codes RTO, RTN and RTOP
ISIN numbers ZAE000006144, ZAE000009700
and ZAE000006154
("Rex Trueform")
African & Overseas Enterprises Limited
(Registered in the Republic of South Africa)
(Registration number 1947/027461/06)
Share codes AOO, AOVP and AON
ISIN numbers ZAE000000485, ZAE000000493
and ZAE000009718
Restructuring and trading update
Shareholders are advised that Rex Trueform has completed an internal
restructure of its business into three separate business units, being
Queenspark - Retail, Rex Trueform - Clothing Manufacturing, and
Distribution. This restructuring was completed late last year and now
properly reflects the business activities of the group.
Although the six months to December was somewhat better than the
corresponding period of last year, the performance of Rex Trueform is still
not satisfactory and a positive result for this period is not expected.
Prospects for the group, however, are more encouraging and it is expected
that benefits arising from improved export opportunities which should prove
positive for the manufacturing business, as well as encouraging developments
in the Queenspark retail business should together produce a positive
performance in the second half of the financial year to June 2002.
The interim results for the six months ended 31 December 2001 will be
published on or about Friday, 8 March 2002.
Cape Town
31 January 2002
Investment Bank and Sponsor
Nedcor Investment Bank
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
