KOLOSUS HOLDINGS Limited - TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
KOLOSUS HOLDINGS Limited
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 1978/000181/06)
SHARE CODE: KOS
nsx SHARE CODE: KOL
ISIN: ZAE000050258
("KOLOSUS" OR "THE COMPANY")
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
In terms of the Listing Requirements of the JSE Securities Exchange South Africa
("JSE Listing Requirements"), companies are required to publish a trading
statement as soon as they become aware that the financial results for the period
to be reported on next will be materially different from that of the previous
corresponding period.
Kolosus is currently finalising its results for the six-month period ended
31 October 2003, which are expected to be released mid to end January 2004.
Kolosus advises that it expects earnings for the six-month period ended
31 October 2003 to be substantially below earnings for the six month period
ended 31 October 2002. In terms of the JSE Listing Requirements, "substantially"
is defined as a decrease of more than 30%.
The strength of the Rand continues to have a negative impact on profitability.
African Hide Trading Corporation (Pty) Limited, which made a loss for the four
months ended 31 August 2003, has been sold with effect from 1 September 2003.
Kolosus management has embarked on a major cost-cutting drive and it is hoped
that the benefits of this will have a positive effect on the results for the
financial year ending 31 December 2004.
CAUTIONARY ANNOUNCEMENT
The above information has not been reviewed or reported on by the Company"s
auditors. Shareholders are therefore advised to exercise caution when dealing in
the Company"s securities until publication of the results for the six-month
period ended 31 October 2003.
Pretoria
18 November 2003
Sponsor and corporate advisers
PSG CAPITAL LIMITED
Date: 18/11/2003 05:15:03 PM Supplied by www.sharenet.co.za
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