Trading update for the eleven months to 31 May 200
AVI -
ANGLOVAAL INDUSTRIES LIMITED
(Reg. No. 1944/017201/06)
("AVI" or "the Group")
Share Code: AVI
ISIN: ZAE000030102
Trading update for the eleven months to 31 May 2003
It is now customary for AVI to provide a trading update twice yearly before the
commencement of the `closed periods" in the lead up to the annual and interim
results. AVI will be announcing its audited results for the year to 30 June 2003
on 10 September 2003. The `closed period" commences on 15 June 2003.
The softer local trading conditions which were referred to in our half year
results announcement continued into March. Turnover in April and May has however
shown some improvement, compared to the trends evident in our third quarter.
Export turnover has continued to be negatively impacted by the strong Rand.
Group turnover for the eleven months to 31 May 2003 increased by 17% to R5,9
billion. Volume growth for the eleven months, on a comparable basis, was 7%.
Volumes in the five months to May 2003 increased by 2% against the same period
in the prior year with continued strong growth in packaging impacted by a
reduction in volumes in branded consumer products and logistics.
Turnover for the eleven months to 31 May 2003
Rm % increase
Branded Consumer Goods 3 834 15%
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- National Brands Foods 1 969 16%
- National Brands Cosmetics 348 15%
- Irvin & Johnson 1 488 11%
- Real Juice Company 29 -
-----
Packaging - Consol 1 784 24%
Logistics - Vector Logistics 330 13%
-----
Group 5 948 17%
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10 June 2003
Enquiries:
AVI
Robert Katzen, Group Financial Director Tel: + 27 11 779 2704
College Hill
Nicholas Williams Tel: +27 11 447 3030
Sponsor
Standard Corporate and Merchant Bank
(A division of The Standard Bank of South Africa Limited)
(Registration number 1962/000738/06)
Date: 10/06/2003 12:56:25 PM Supplied by www.sharenet.co.za
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