INS
Insure - Trading Update And Cautionary Announcement
INSURANCE OUTSOURCING MANAGERS HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/013121/06)
("INSURE" or "the company")
JSE Code: INS ISIN Code: ZAE000033221
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
INSURE directors are pleased to provide shareholders with an update on trading
to 31 August 2003. Gross collections, operating profit and net profit before
taxation are expected to be substantially higher in relation to the comparative
period in the prior year. (Substantially being an increase in excess of 30% as
defined in the revised JSE Listings Requirements). The improvement in earnings
is primarily attributable to a substantial increase in all areas of the
business, and more specifically, premium financing, outsource collections,
broker acquisition support and EpiC premium collections. In addition, the
restructuring of the business and change in control of INSURE, in the form of a
management buyout, was completed in the prior year which has enabled the company
to focus on its core products, competencies and services.
Full details of the above will be provided when the company publishes its
interim results in September 2003.
As the earnings estimate has not been reviewed or audited by the company"s
auditors, shareholders are advised to exercise caution when dealing in their
securities until the company publishes it"s interim results on SENS and in the
press.
Johannesburg
19 August 2003
Sponsor
Arcay Group Limited
Date: 19/08/2003 04:35:52 PM Produced by the JSE SENS Department
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