TRENCOR LIMITED/MOBILE INDUSTRIES LIMITED - TRADING STATEMENT AND CAUTIONARY
ANNOUNCEMENT
TRENCOR LIMITED
(Registration Number 1955/002869/06)
("Trencor")
Share Code: ISIN:
TRE ZAE000007506
TED2 ZAE000007282
MOBILE INDUSTRIES LIMITED
(Registration Number 1968/014997/06)
("Mobile")
Share Code: ISIN:
MOB ZAE000004602
MBN ZAE000012274
MOBD ZAE000004610
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Holders of securities in Trencor and Mobile are advised that trading income from
Trencor"s core businesses, after charging net financing costs, for the year to
31 December 2003, is materially better than last year (being a difference
greater than 10% but less than 30% as defined in the Listings Requirements of
the JSE Securities Exchange South Africa), despite the negative effect of the
stronger rand on the translation of our mainly US dollar-based trading income.
The stronger rand has again impacted negatively upon earnings as a result of the
net effect of translating long-term receivables and the related provision, and
also the company"s dollar loans, from US dollars into rand. The negative effect
on earnings for 2003 arising from these translations was substantially less than
in 2002.
Overall, the headline loss per share for 2003 is expected to be substantially
lower (being a difference greater than 30% as defined in the Listings
Requirements of the JSE Securities Exchange South Africa) than the 230,3 cents
per share for 2002.
At 31 December 2003, the exchange rate stood at US$1 = R6,62 compared with R8,66
at 31 December 2002.
This forecast financial information has not been reviewed or reported on by the
companies" auditors and holders of securities in Trencor and Mobile are advised
to exercise caution when dealing in their securities until the reviewed results
in respect of the year ended 31 December 2003 are published, which is expected
to be in early March 2004.
ON BEHALF OF THE BOARDS
NI JOWELL CHAIRMAN TRENCOR LIMITED
C JOWELL CHAIRMAN MOBILE INDUSTRIES LIMITED
16 FEBRUARY 2004
www.trencor.net
www.mobile-indistries.net
Sponsor: HSBC Investment Services (Africa) (Pty) Ltd
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