TRUWORTHS INTERNATIONAL LIMITED - TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Truworths International Limited
( 1944/017491/06)
Code : TRU
ISIN : ZAE000028296
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
In terms of the new JSE Listings Requirements, which became effective on 1
September 2003, companies are required to disclose any material change in
their comparative financial results as soon as they become aware thereof.
In compliance with this requirement, Truworths International Limited
("Truworths") advises that the group"s earnings and headline earnings for
the 26 week period to 31 December 2003 are forecast by management to be
substantially (i.e. more than 30%) higher than those reported for the prior
corresponding half-year.
As this forecast has neither been reviewed nor reported on by the group"s
external auditors, holders of Truworths" shares are advised to exercise
caution in dealing in their shares until the group"s results for the period
are published on or about 19 February 2004.
The group improved retail sales by 15.7% to R1 366.6 million in the period.
The corresponding amount in the last financial period, when sales grew by
23.3% at a time of higher inflation, was R1 181.3 million.
The sales growth over the period included comparable store sales growth of
9.3%. Fourteen Identity and three Truworths stores were opened during the
period, as planned
In extending its record of consistent improvements in sales, the group
benefited from buoyant consumer spending, particularly in festive season
trading, in its market sector and from the strategy of offering enhanced
quality in an environment of lower inflation and declining interest rates.
Cape Town
20 January 2004
Date: 20/01/2004 12:54:04 PM Supplied by www.sharenet.co.za
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