SOVEREIGN - TRADING STATEMENT
SOVEREIGN FOOD INVESTMENTS LTD
Incorporated in the Republic of South Africa
Registration Number 1995/003990/06
Share Code: SOV ISIN Number: ZAE000009221
("Sovereign" or "the company")
TRADING STATEMENT
Sovereign is currently finalising its interim results for the six months ended
31 August 2003, which will be released before the end of November 2003.
Shareholders are advised that the earnings for that period will be substantially
lower, as defined in the Listings Requirements of the JSE Securities Exchange
South Africa ("the JSE"), than those reported in the comparative six-month
period in the prior year.
This decline can largely be attributed to higher finance charges which have
occurred as a result of continued investment in our agricultural and processing
divisions, which are now producing world-class efficiencies. In accordance with
past experience, it is the norm for the group to make the bulk of its operating
profits in the second half of the financial year. Based on current trading
results, the board of directors of Sovereign expects earnings for the full year
to be substantially similar to that of the prior year.
Because this earnings information has not been reviewed and reported on by the
company"s auditors, shareholders are advised to exercise caution when dealing in
Sovereign shares on the JSE until the interim results are published.
Sponsor: Merchant Sponsors (Proprietary) Limited
Date: 31/10/2003 05:00:03 PM Supplied by www.sharenet.co.za
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