Winecorp Limited
(Incorporated in the Republic of South Africa)
Registration number 1997/012032/06
Share code: WNE
ISIN: ZAE000027710
("Winecorp" or "the company")
TRADING UPDATE
Shareholders are referred to the statements made by the company in its interim
report for the six months ended 31 January 2003, wherein they were advised that
the strengthening of the rand and a substantial increase in input costs due to
an increase in the cost of white wines for the 2003 harvest would put pressure
on the sustainability of its results towards the year end.
Currently 87% of the company"s sales are exports, with the majority of sales
being in pounds sterling. The average rate of the rand to the pound for the
first six months was approximately 15:1, while this rate has firmed to
approximately 12.5:1 for the five months ended 30 June 2003. The continued
strengthening of the rand will impact negatively on the company"s results and
shareholders are advised that the results announced for the six months ended 31
January 2003 will not be sustained. However, management has taken proactive
steps and has been successful in increasing margins in foreign currency terms,
which should improve the results in the longer term.
Cape Town
2 July 2003
Sponsor
Sasfin Corporate Finance
A Division of Sasfin Bank Limited
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