Illovo Sugar Limited - Trading Update And Cautionary Announcement
Illovo Sugar Limited
Company registration number 1906/000622/06
Share Code: ILV
ISIN: ZAE000003547
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
This Trading Update and Cautionary Announcement is issued in accordance with the
revised Listings Requirements of the JSE Securities Exchange South Africa ("the
revised JSE requirements"), which became effective on 1 September 2003.
Operations in the current financial year are progressing well, with the
production of cane and sugar as indicated at the Annual General Meeting of
members held on 17 July 2003, remaining at approximately 5,6 million tons and
2,2 million tons respectively. The Rand, however, continues to be considerably
stronger compared to the same period last year and this is expected to result in
headline earnings for both the six months to 30 September 2003 expressed on a
sugar season basis and the financial year to 31 March 2004 being materially
lower (as defined in the revised JSE requirements) than those of the previous
comparative periods.
The above earnings information has not been reviewed and reported on by the
company"s auditors. Shareholders are advised to exercise caution when dealing
in the company"s securities until the publication of its interim results on or
around 12 November 2003 when more detailed information will be provided.
By order of the Board
Mount Edgecombe
17 September 2003
Sponsor
Cazenove
Date: 17/09/2003 05:05:02 PM Supplied by www.sharenet.co.za
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