FOSCHINI LIMITED-TRADING STATEMENT AND WITHDRAWAL OF CAUTIONARY
FOSCHINI LIMITED-TRADING STATEMENT AND WITHDRAWAL OF CAUTIONARY
FOSCHINI LIMITED
Reg. No.: 1937/009504/06
Code: FOS
ISIN: ZAE000031019
Trading Statement and Withdrawal of Cautionary Announcement
At the interim stage, the group reported that the second half of the financial
year is always heavily dependent on the level of Christmas trading, but that the
group remained confident about this important trading period.
The lowering of interest rates, together with declining inflation, has benefited
consumer confidence and spending patterns were boosted over the Christmas
trading period.
All divisions traded above expectations during and subsequent to the Christmas
trading period, and, further to the Trading Statement released on 26 January
2004, the group re-iterates that its earnings and headline earnings for the year
ending 31 March 2004 are forecast to be substantially (i.e. more than 30%)
higher than those reported for the prior year.
The trading statement issued on 26 January 2004 was not reviewed nor reported on
by the external auditors, and accordingly a cautionary announcement was issued.
As the trading statement and forecast have now been reviewed and reported on by
the group"s external auditors, the cautionary is hereby withdrawn.
The Independent Accountants Report on the profit forecast is available for
inspection at the offices of the company.
Cape Town
16 March 2004
SPONSOR
UBS Corporate Finance South Africa (Pty) Ltd
-ENDS
Date: 16/03/2004 12:47:15 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
