VENFIN LIMITED -
VENFIN LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1948/031037/06)
JSE Share Code: VNF
ISIN: ZAE000026498
("VenFin" or "the Company")
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
VenFin is currently finalising its results for the six months ended 31 December
2003, which will be released on 2 March 2004. In this regard, shareholders are
advised that headline earnings will be materially higher ("materially" being an
increase between 10% and 30%, as defined in the JSE Securities Exchange South
Africa ("the JSE") Listings Requirements) than those reported in the comparative
six months period ended 31 December 2002.
This is largely attributable to:
* The increase in equity accounted earnings from Vodacom due to the
additional 1.5% stake purchased in Vodacom (15% interest compared to 13.5%
during the comparative period) as well as the steady growth in Vodacom"s
interim earnings.
* The continued turnaround of e-tv during the current interim period.
* Reduced losses at GenuOne Inc.
Shareholders are also advised that this material increase does not necessarily
give an indication of the increase in headline earnings for the year to 30 June
2004. Factors impacting on headline earnings, such as seasonality as well as
the fluctuation in exchange rates can effect headline earnings.
The financial information on which this trading statement is based has not been
reviewed or reported on by the Company"s auditors and shareholders are therefore
advised to exercise caution when trading in the Company"s shares until the
results are published.
Stellenbosch
4 February 2004
Sponsor:
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 04/02/2004 04:48:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
