Beige Holdings Limited - Trading Update, Award Of International Manufacturing
Tender And Cautionary Announcement
Beige Holdings Limited
(Registration number 1997/006871/06)
("Beige" or "the company")
JSE Code: BEG ISIN Code: ZAE 000034161
TRADING UPDATE, AWARD OF INTERNATIONAL MANUFACTURING TENDER AND CAUTIONARY
ANNOUNCEMENT
Trading update
Shareholders are hereby provided with an update on Beige"s trading to 28
February 2004. Operating profit and net profit before taxation are expected to
be substantially lower in relation to the comparative period in the prior year.
(Substantially being an increase or decrease in excess of 30% as defined in the
revised JSE Listings Requirements). The decline in earnings is primarily
attributable to the establishment of a sales and marketing department during the
period, for both local and international markets, (refer to the award of
manufacturing tender announcement below), factory relocation downtime and
associated costs, and the strengthening of the Rand over the year relating to
export sales. The decline in earnings is not considered to be a trend but a
once off occurrence as a result of the group consolidating and positioning
itself for the future.
Full details of the above will be provided when the company publishes its annual
results in May 2004. Shareholders are referred to the cautionary announcement
below.
Award of manufacturing tender
Beige is pleased to announce that the company has been notified of its
successful tendering for a substantial international manufacturing contract,
which should result in Beige"s turnover increasing by more than 30% in the
forthcoming financial year. The formal agreement is to be finalised during
March 2004.
Cautionary announcement
As the earnings estimate in the trading update has not been reviewed or audited
by the company"s auditors, shareholders are advised to exercise caution when
dealing in their securities until the company publishes its annual results on
SENS and in the press. In addition, due to the fact that the international
contract is still subject to formal negotiation and that Beige is in other
negotiations, which if successfully concluded, could have a material impact on
the price of the company"s securities and cumulatively could be significant for
the group, Beige shareholders are advised to exercise caution when dealing in
their securities. A further announcement will be published in due course.
Johannesburg
23 February 2004
Designated adviser
Arcay Group Limited
Date: 24/02/2004 12:40:10 PM Produced by the JSE SENS Department
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