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AFROX HEALTHCARE LIMITED - ANNOUNCEMENT
Afrox Healthcare Limited
(Incorporated in the Republic of South Africa)
(Registration number 1985/001313/06)
("Ahealth")
ISIN: ZAE000022059 Share code: AHH
Summary of the Ahealth Business segment results as reported by The BOC Group plc
("BOC") for the three months to 31 December 2003 ("the results")
The following information is an extract of the results made available by BOC,
Ahealth"s ultimate parent company:
"Turnover and adjusted operating profit increased on a constant currency basis
and more so upon translation into sterling. Sales volumes declined slightly but
margins improved as a result of changes in business mix and improved operational
efficiency.
On 17 November 2003, Afrox announced that it had agreed to sell its entire
shareholding in Afrox Healthcare to a consortium of Black Economic Empowerment
(`BEE") investors led by Brimstone Investment Corporation Limited and
Mvelaphanda Strategic Investments (Proprietary) Limited.
The sale by Afrox and the associated offer by the BEE consortium to minority
shareholders in Afrox Healthcare remains subject to certain conditions,
including clearance from the relevant competition authority. The necessary
approval has already been obtained from the Johannesburg Stock Exchange.
Business segment results
All comparisons that follow are on the basis of constant exchange rates. There
were no exceptional items in the first quarter of 2004. Adjusted operating
profits in 2003 exclude exceptional items. Comparisons are made with the
fiscal first quarter a year ago unless stated otherwise.
Fiscal Fiscal Fiscal Fiscal
first first first first
quarte quarter quarter quarter
r (year to (year to (year to
(year 30 30 30
to 30 Septembe September Septembe
Septem r 2004) 2004) r 2004)
ber
2004)
Business segments Turnov Turnover Operating Operatin
er profit g profit
(GBPm) (GBPm)
Afrox hospitals 99.4 +7% 10.1 +12%"
The details of the results for the three months to December 2003 are available
on BOC"s website at the following address: www.boc.com.
By order of the Board
Johannesburg
5 February 2004
Sponsor
NEDBANK CORPORATE
Date: 05/02/2004 09:22:04 AM Produced by the JSE SENS Department
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