IFW: INFOWAVE HOLDINGS LIMITED - TRADING STATEM...
INFOWAVE HOLDINGS LIMITED - TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
INFOWAVE HOLDINGS LIMITED
(Registration number 1998/17276/06)
(Incorporated in the Republic of South Africa)
JSE Share code: IFW
ISIN: ZAE000016440
(InfoWave or the Company)
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
InfoWave is the holding company of two private companies primarily involved in
the provision of IT application solutions.
This trading statement and cautionary announcement is issued in accordance with
3.4 of the Listings Requirements of the JSE Securities Exchange South Africa.
Whilst turnover and operating profit levels are expected to be maintained,
earnings for the financial year ending 29 February 2004 (the year end results)
will be materially lower than the comparative 2003 financial year end. The word
materially in this context is defined as meaning a difference equal to or
greater than 10% but less than 30%.
The major factors influencing the year end results, most of which have been
previously communicated to shareholders, are:
* Reduced interest rates on investment funds;
* A full taxation charge due to the realisation of a deferred tax asset
recognised at 28 February 2003; and
* The payment of Secondary Tax on Companies on dividends paid to shareholders
in June 2003.
The above earnings information has not been reviewed and reported on by the
Companys auditors. Shareholders are therefore advised to exercise caution when
dealing in InfoWave shares until the publication of the Companys year end
results anticipated in the first week of May 2004.
Durban
26 January 2004
Sponsor:
Sasfin Corporate Finance
A division of Sasfin Bank Limited
For more information about InfoWave Holdings Limited see: www.infowave.co.za
Date: 26/01/2004 05:15:06 PM Produced by the JSE SENS Department
26/01/2004 Source: JSE NEWS SERVICE
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