L.A. Group - Trading Statement And Cautionary Announcement
L.A. GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1936/008786/06)
Share Code: LAR ISIN: ZAE000028676
Share Code: LAN ISIN: ZAE000028684
("L.A. Group" or "the company")
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
In terms of the Listings Requirements of the JSE Securities Exchange South
Africa ("JSE"), listed companies are required to publish a trading statement as
soon as they become aware that the financial results for the period to be
reported on next will be materially different to that of the previous
corresponding period. Shareholders are advised that the financial results for
the year ended 29 February 2004 are expected to be substantially higher than
those of the previous year ending 28 February 2003, mainly as a result of the
turnaround of the Allen & Douglas business, reduced foreign exchange losses and
minimal losses arising from discontinued operations as compared to the previous
year. The word "substantially" is defined by the JSE Listings Requirements as
meaning a difference of equal to or greater than 30%.
Shareholders are referred to the announcement of the interim results published
on SENS on 28 October 2003 where they were advised of certain contingent
liabilities resulting from possible claims by the South African Revenue Services
("SARS") against the group in terms of SARS" ongoing investigation into
trademark deductions previously allowed. The scope of the SARS investigation
was subsequently extended to include the remaining trademark deductions. SARS
have completed their investigation and the company has made extensive
representation in reply thereto, the outcome of which is awaited. Shareholders
will be advised of any further developments in this regard. The financial
information on which this trading statement is based does not include any
provisions or adjustments relating to the above.
The financial information contained herein has not been reviewed or reported on
by the company"s auditors and shareholders are therefore advised to exercise
caution in trading in the company"s shares until release of the annual financial
results of L.A. Group, which is expected during May 2004.
23 April 2004
Cape Town
Sponsor
SASFIN CORPORATE FINANCE
A division of Sasfin Bank Limited
Date: 23/04/2004 05:15:03 PM Produced by the JSE SENS Department
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