Kersaf Investments Limited - Trading Statement And
Kersaf Investments Limited - Trading Statement And Cautionary Announcement
Kersaf Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1967/007528/06)
Share code: KER ISIN: ZAE000003844
("Kersaf")
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
In terms of the Listings Requirements of the JSE Securities Exchange South
Africa ("the JSE") a listed company is required to publish a trading statement
as soon as it becomes aware that the financial results for the next reporting
period will be materially different from those of the corresponding period of
the previous year.
Accordingly, shareholders are advised that Kersaf"s results for the year ending
30 June 2004 are projected to be substantially higher than those of the prior
year. This can be attributed to the group"s increased shareholding in Sun
International (South Africa) Limited ("SISA") and strong growth in gaming
revenues, particularly over the last five months. Reduced interest rates have
had a positive impact on disposable income benefiting the group"s casinos and
the overall cost of borrowings. The group"s resort at the Victoria Falls, Zambia
has traded well compared to last year and Sun International Management Limited
has benefited from the improved trading and good cost control. The word
"substantially" is used in this context as defined in the JSE"s Listings
Requirements to indicate an increase of more than 30%.
The projection has not been reviewed or reported on by Kersaf"s auditors.
Kersaf"s results for the year ended 30 June 2004 are expected to be released
towards the end of August 2004.
Kersaf shareholders are advised to exercise caution when dealing in their Kersaf
shares.
Sandton
26 April 2004
Sponsor
Investec
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