Truworths International Limited - Trading Update
Release Date: 16/07/2003 14:23:01 Code(s): TRU
Truworths International Limited - Trading update
Truworths International Limited
(Registration no. 1944/017491/06)
(" the company")
Code : TRU
ISIN : ZAE000028296
Trading Update
16 July 2003
Truworths International Limited ("Truworths") announced that sales of
merchandise in the 52 weeks to 30 June 2003 increased by 16.2 % to R2.306
billion from R1.984 billion in 2002. The comparative sales growth in the 2002
financial year was 24.4 %.
Sales in 2002 were based on a 53 week trading period; if the sales of the 53rd
week are excluded, then comparable sales growth for 2003 would have been 18.7 %.
This growth has resulted in annual sales exceeding R2.3 billion and represents a
more than doubling of turnover since 1997 when sales topped R1 billion.
As predicted, sales growth slowed in most product categories during the second
half as a result of declining price inflation and softening consumer demand as a
result of high real interest rates.
The slower sales growth for this period was achieved against the background of a
strong trading base established over past years, and the effect of an additional
week in the previous period.
Truworths results for the 52-week period to 30 June 2003 are scheduled to be
announced on 21 August 2003.
Sponsor
HSBC
WvdM / smk
Wednesday 16 July 2003
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