FOS: FOSCHINI LIMITED - TRADING STATEMENT AND C...
FOS: FOSCHINI LIMITED - TRADING STATEMENT AND C...
FOSCHINI LIMITED - TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
FOSCHINI LIMITED
Reg. No : 1937/009504/06
Code : FOS
ISIN : ZAE000031019
Trading Statement and Cautionary Announcement
At the interim stage, the group reported that the second half of the financial
year is always heavily dependent on the level of Christmas trading, but that the
group remained confident about this important trading period.
The lowering of interest rates, together with declining inflation, is benefiting
consumer confidence and spending patterns were boosted over the Christmas
trading period.
All divisions traded above expectations during the Christmas trading period and,
notwithstanding that there are still nine weeks remaining in the current
financial year, the group advises that the groups earnings and headline
earnings for the year ended 31 March, 2004 are forecast by management to be
substantially (i.e. more than 30%) higher than those reported for the prior
year.
As this forecast has neither been reviewed nor reported on by the groups
external auditors, holders of Foschini shares are advised to exercise caution in
dealing in the shares until the groups results for the year are published on or
about 27 May, 2004.
Cape Town
26 January, 2004
SPONSOR
UBS Corporate Finance South Africa (Pty) Ltd
Date: 26/01/2004 05:10:02 PM Produced by the JSE SENS Department
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