Anglovaal Industries Limited - Extract From Chairm
Anglovaal Industries Limited - Extract from Chairman`s statement at the AVI
Annual General Meeting held on 16 October 2002
Anglovaal Industries Limited
("AVI" or "the Group")
(Reg. No. 1944/017201/06)
Share Code: AVI
ISIN: ZAE000030102
Extract from Chairman`s statement at the AVI Annual General Meeting held on 16
October 2002
The Chairman advised shareholders of trading for the first quarter of the
Group`s financial year ending 30 June 2003:
"The Group continued to show strong growth in the three months ended 30
September 2002 with volumes up 12%. Group turnover increased by 28% to R1,7
billion driven by the volume growth, the inclusion of Alpesca S.A., the
Argentinean seafood company acquired in August 2001, and the impact of the
devaluation of the Rand on export realisations.
Segmental Turnover Improvement on
Rm prior year (%)
Branded Consumer Goods 1 101 29
Packaging 482 27
Logistics 89 24
Group 1 672 28
Domestic demand has remained strong in spite of higher interest rates and
consumer price inflation, while export sales continued to show strong growth."
Enquiries:
AVI
Robert Katzen, Group Financial Director Tel: + 27 (0) 11 779 2704
Date: 16/10/2002 12:12:00 PM Produced by the JSE SENS Department
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