AST Group Limited
Incorporated in the Republic of South Africa
Registration number 1998/021790/06
"AST"
Share code: AAA
ISIN: ZAE000027397
TRADING UPDATE
The financial results of AST for the year ended 30 June 2002 have now been
collated. It is evident that the final headline earnings per share for the
period under review will be below recent consensus analysts` earnings estimates
of approximately 24 cents. The financial statements indicate that headline
earnings will however exceed R110 million or 20 cents per share. Cash generated
from operations will exceed R230 million and cash on hand at year end will
exceed R110 million.
While AST traded in line with expectations, a management change at the Namibian
subsidiary during the last quarter uncovered significant additional losses.
Immediate corrective action has been taken to fully integrate Namibia with AST`s
SAP financial management system. AST`s service to its customers in Namibia will
not be affected.
AST remains in a closed period until the release of the financial results on 13
August 2002, at which time the Directors will be in a position to provide more
detail.
5 August 2002
Sponsor
Cazenove
Date: 05/08/2002 04:00:00 PM Produced by the JSE SENS Department
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