Tradehold Limited - Brown & Jackson Plc Trading Up
Tradehold Limited - Brown & Jackson Plc Trading Update
Tradehold Limited
(Incorporated in the Republic of South Africa)
(Registration number 1970/009054/06)
Share code: TDH ISIN: ZAE000026902
Shareholders` attention is drawn to a statement issued by Tradehold`s
subsidiary, Brown & Jackson plc, on 14 August 2002 and which appears below.
As was stated on 30 May 2002, the goodwill write-off referred to in the
statement below will have no effect on Tradehold`s results as this has
previously been fully accounted for in terms of the then applicable South
African Generally Accepted Accounting Practice.
"Having evaluated the stock of the Group, the Board of Brown & Jackson plc
estimates that the pre-exceptional trading loss for the 53 weeks ended 6 July
2002 will be approximately GBP22m. This is before a goodwill write-off of
approximately GBP19m and a significant restructuring charge as yet not fully
quantified. The current market expectation is a pre-exceptional trading loss of
GBP10m and a goodwill write-off of approximately GBP19m. This increased loss is
mainly due to a realignment of provisions reflecting a more aggressive markdown
policy thought necessary in a changing market-place.
"Full details of the results and an update on the restructuring of the business
(as announced on 2 July 2002) will be given in the next three weeks."
For and on behalf of the Board
Dr C H Wiese
Chairman
14 August 2002
Sponsor
BJM Corporate Finance logo
Date: 14/08/2002 03:01:21 PM Produced by the JSE SENS Department
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