Faritec - Trading Update
Release Date: 25/11/2002 17:46:41 Code(s): FRT
Faritec - TRADING UPDATE
Faritec Holdings Limited
Share code : FRT
ISIN : ZAE000016838
Management believes it is appropriate to provide an update on the trading
conditions currently being experienced by Faritec.
In line with our long term strategy of growing high value-add annuity services
revenue, Faritec has invested a significant amount of time, effort and capital
into our existing services business and a number of new initiatives. Whilst the
services business is on budget and the new initiatives are on track, our product
business, which has been the major contributor to our results over the last two
years, has experienced a slow down in customer spend in the first half of the
financial year. As a result, management expects the interim results, for the
six months ending 31 December 2002, to be below those reported for the same
period ended 31 December 2001. This will not have a major effect on our balance
sheet, which remains sound.
Date: 25/11/2002 05:46:29 PM Produced by the JSE SENS Department
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