CERAMIC INDUSTRIES LIMITED - TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
CERAMIC INDUSTRIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1982/008520/06)
Share code: CRM
ISIN NUMBER: ZAE 000008538
("Ceramic")
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
Ceramic"s shareholders are advised that the Group"s headline earnings per share
for the six months ended 31 January 2004, will be approximately 15% lower than
that of the prior comparative period.
Ceramic had, in the previous reporting period, been close to achieving its
benchmarks for being globally competitive. The strengthening of the Rand has
highlighted the fact that the Group still has inefficiencies in its operations
and has some way to go to reach its benchmarks.
With the exception of Pegasus, all divisions reported lower profits than in the
comparative period. The situation at Vitro was aggravated by technological
problems. Aggressive action has been taken to reduce costs at all factories and
to resolve the problems at Vitro.
The results for the six months ended 31 January 2004 have not been reviewed and
reported on by Ceramic"s auditors, and shareholders are therefore advised to
exercise caution when dealing in Ceramic"s shares until the results for the six
months ended 31 January 2004 are released on 10 March 2004
Johannesburg
16 February 2004
Sponsor
Nedbank Corporate
Date: 16/02/2004 02:59:03 PM Supplied by www.sharenet.co.za
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