Comparex Holdings Limited - Trading Statement And Cautionary Announcement
Release Date: 16/02/2004 17:17:01 Code(s): CPX
COMPAREX HOLDINGS LIMITED - TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
COMPAREX HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1994/002506/06)
Share Code: CPX
ISIN: ZAE000016812
("Comparex" or "the Company")
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
Comparex is currently finalising its interim results for the six months ended 30
November 2003, which should be published on or about 23 February 2004. In this
regard, shareholders are advised that earnings per share will be materially
higher ("materially" being a change of between 10% and 30%, as defined by the
JSE Listings Requirements) than the corresponding reporting period of the
previous year in respect of continuing businesses.
The Company would also like to report that headline earnings per share will be
significantly lower, that is, less than the 10% reporting requirement of the JSE
Listings Requirements, than the previous corresponding period in respect of
continuing businesses.
Both differences are mainly attributable to the implementation of AC133 and the
reversal of the previous impairment provision relating to the value of the
preference shares held in a member of Nitac, the underlying investment being
Comparex and Dimension Data shares.
The financial information on which this trading statement is based has not been
reviewed by the Company"s auditors. Shareholders are therefore advised to
exercise caution when trading in the Company"s shares until the results are
published.
Midrand
16 February 2004
Merchant Bank and Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
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