The Don Group Limited - Trading Statement And Cautionary Announcement
Release Date: 24/03/2004 10:22:44 Code(s): DON
The Don Group Limited - Trading statement and cautionary announcement
The Don Group Limited
(Registration number 1946/023123/06)
Incorporated in the Republic of South Africa
Share code: DON ISIN: ZAE000008462
("Don" or "the company"or `the group")
Trading statement and cautionary announcement
Shareholders are advised that Don will be reporting a loss and headline loss for
the six months period ended 31 December 2003, compared to positive earnings and
headline earnings generated in the prior comparative period, being the six
months period ended 31 December 2002.
The decrease is substantial ("substantial" being a decrease of equal to or
greater than 30% as defined in paragraph 3.4 of the Listings Requirements of the
JSE Securities Exchange South Africa ("the JSE")),
and is attributable, inter alia, to:
* non achievement of budgeted levels of turnover;
* high levels of costs relating to individual hotel operations and head office
functions;
* certain non-recurring expenditure; and
* ongoing product development and repositioning of the group in the tourist
market.
The loss and headline loss for the six months ended 31 December 2003 ("the
results") have not been reviewed and reported on by the company"s auditors, and
shareholders are accordingly advised to exercise caution when dealing in the
company"s securities on the JSE until such time as the results are published,
which will be on or before 31 March 2004. The results will be reviewed by the
company"s auditors prior to the publication thereof.
Paulshof
24 March 2004
Sponsor
Grant Thornton Corporate Finance (Proprietary) Limited
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