GLENRAND MIB LIMITED - TRADING UPDATE
Glenrand MIB Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/008001/06)
(JSE code: GMB ISIN: ZAE000018529)
("the group")
TRADING UPDATE
In the interim results announcement published on 20 February 2003, the directors
stated that the group expected to achieve real growth in headline earnings per
share for the year ended 30 June 2003. This view was based on the excellent
trading results in the group"s Risk Advisory Services business ("Risk Advisory
Services") continuing for the remainder of the year and the poor trading results
in the group"s Benefit Consulting and Healthcare (Protector Group) ("Protector")
business units showing some recovery in the second half of the financial year.
Risk Advisory Services has continued its excellent performance to date and
should deliver a strong performance to 30 June 2003. However, the trading
results of our Benefit Consulting and Protector business units have not improved
as envisaged, with trading profits expected to be significantly down on the
prior year.
Accordingly, the directors do not expect the group to meet the expectations
raised in the aforementioned interim results announcement.
Johannesburg
23 May 2003
Investment Bank and Sponsor
Nedbank Corporate
Date: 23/05/2003 11:40:33 AM Supplied by www.sharenet.co.za
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