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ANGLOVAAL INDUSTRIES LIMITED - TRADING UPDATE FOR THE THREE MONTHS TO 30
SEPTEMBER 2003
ANGLOVAAL INDUSTRIES LIMITED
(Reg. No. 1944/017201/06)
("AVI" or "the Group")
Share Code: AVI
ISIN: ZAE000030102
TRADING UPDATE FOR THE THREE MONTHS TO 30 SEPTEMBER 2003
It is AVI"s practice to provide a trading update at its annual general meeting
and the following statement will be presented at the meeting to be held at 11:30
am today.
The soft local trading conditions, which were referred to in our annual results
announcement in September, have as anticipated continued into the new financial
year. Export turnover has been negatively impacted by the strong Rand.
Group turnover was R1,7 billion, an increase of 7% relative to the comparative
period last year. Excluding the impact of acquisitions, volume growth for the
three months was 9% with continued strength in packaging impacted by lower
volumes in branded consumer products.
TURNOVER FOR THE THREE MONTHS TO 30 SEPTEMBER 2003:
Rm % increase
Branded Consumer Products 1 064 -1%
-----
- National Brands Foods 562 -3%
- Indigo Cosmetics 96 25%
- Irvin & Johnson 391 -6%
- Real Juice Company 15 -
-----
Packaging - Consol 589 22%
Logistics - Vector Logistics 94 6%
-----
Group 1 748 7%
=====
The Group has continued to progress its acquisition strategy and during the
three month period has completed the following acquisitions:
* Irvin & Johnson has concluded agreements, in principle, to purchase three
shrimp vessels and two hake vessels in Argentina at a total cost of
approximately US$13 million. The acquisitions are subject to final due
diligence and regulatory approvals.
* Indigo Cosmetics, which owns the successful Lentheric trademark for Africa,
has now acquired this trademark for the rest of the world, which will
enable Indigo to launch its products internationally. The total cost of the
acquisition was US$4 million.
* The Real Juice Company has completed the acquisition of Quali Juice, a
further short-life juice business for a total cost of R32 million.
These acquisitions are not expected to have a material impact on turnover or
earnings in the current year.
Chislehurston
20 October 2003
Enquiries:
AVI
Robert Katzen,
Group Financial Director
Tel: + 27 11 779 2704
College Hill
Nicholas Williams
Tel: +27 11 447 3030
Date: 20/10/2003 11:00:04 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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