SABVEST LIMITED
(Registration Number 1987/003753/06)
ORDINARY SHARES : SHARE CODE : SBV ISIN : ZAE 000006417
"N" ORDINARY SHARES : SHARE CODE : SVN ISIN : ZAE 000012043
("Sabvest" or "the Group")
Trading Update
1. Increase in headline earnings
In July 2002, Sabvest reported that its interim headline earnings had
increased by 49%. At the time, Sabvest indicated that it expected an
increase in headline earnings per share for the full year, albeit at a
lower rate than at the interim stage.
Most of the businesses in which Sabvest is invested are trading ahead of
budget. Shareholders are advised that, based on management accounts,
Sabvest now expects an increase in headline earnings per share for the full
year in excess of that previously envisaged.
2. Likely resumption of dividends
Sabvest`s policy is to consider dividend declarations annually, and that
such payments may vary or be waived depending on the group`s cash
requirements at the time.
Sabvest currently has no net interest-bearing debt owing to its bankers and is
cash flow positive at both operating and investment levels. Accordingly, Sabvest
expects to resume the declaration of dividends in the 2003 financial year.
Sponsor
Rand Merchant Bank a Division of FirstRand Bank Limited
Corporate Finance
Sandton
8 January 2003
Date: 08/01/2003 05:55:45 PM Produced by the JSE SENS Department
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