EXCELLERATE HOLDINGS LIMITED - TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
EXCELLERATE HOLDINGS LIMITED
(Registration number 1997/009884/06)
Share code: EXL ISIN: ZAE000026092
Share code: EXLD ISIN: ZAE000044145
("Excellerate" )
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
Excellerate shareholders are advised that Excellerate"s results for the six
months ended 31 December 2003, will be materially(between 10% and 30%) lower
than that of the prior comparative period. This was primarily as a result of
certain restructuring activities and once-off costs relating thereto that took
place in the Excellerate group during the first quarter in the six-month
reporting period. The board is of the view that there has been good progress as
a result of the restructuring process. It is, however, expected that the full
benefit of the restructuring efforts will take a further 6 to 12 months to come
through. Although the first quarter was a difficult trading period, the second
quarter has been better and cash flow generation has been ahead of target.
Further details of the above will be provided when Excellerate"s results for the
six months ended 31 December 2003 are published in early March 2004.
As the results for the six months ended 31 December 2003 have not been reviewed
and reported on by Exce1lerate"s auditors, shareholders are advised to exercise
caution when dealing in Excellerate"s shares until the aforementioned six months
results are published.
Johannesburg
30 January 2004
Sponsor
Nedbank Corporate
Date: 30/01/2004 02:46:02 PM Supplied by www.sharenet.co.za
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