CROOKES BROTHERS LIMITED - TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
CROOKES BROTHERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1913/000290/06)
("the company")
Share code: CKS ISIN: ZAE000001434
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Shareholders were, inter alia, advised in the company"s 2003 Annual Report and
at the Annual General Meeting of shareholders held on 24 July 2003, that
"despite increases in budgeted volumes of all crops harvested during the current
year, fluctuations in the value of the Rand and variable weather patterns of the
past summer could result in reduced earnings for the 2003/04 financial year".
The Rand continues to be considerably stronger than expected and this has
negatively impacted on the estimated South African and Swaziland sucrose prices,
local grain prices, and export prices of both citrus and deciduous fruit. It is
therefore expected that headline earnings for both the six months to 30
September 2003 and the financial year ending 31 March 2004 will be materially
lower (as defined in the Listings Requirements of the JSE Securities Exchange
South Africa) than those of the comparative periods.
The above earnings information has not been reviewed or reported on by the
company"s auditors. Shareholders are accordingly advised to exercise caution
when dealing in the company"s securities until the publication of its interim
results on or around 27 November 2003 when more detailed information will be
provided.
Renishaw
22 September 2003
Sponsor
SASFIN CORPORATE FINANCE
A DIVISION OF SASFIN BANK LIMITED
Date: 22/09/2003 02:00:06 PM Produced by the JSE SENS Department
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