Absa - Trading statement and cautionary announcement
ABSA GROUP LIMITED -
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
ISIN CODE: ZAE000013389
JSE CODE: ASA
(`Absa`)
Trading statement and cautionary announcement
Absa`s financial statements for the year ended 31 March 2004 are being prepared,
for the first time, in accordance with the requirements of accounting statement
AC 133 - Financial Instruments: Recognition and Measurement. This statement is
applied prospectively and does not require the restatement of the results for
the previous financial year. Accordingly, the financial results for the year
will not be comparable to the previous year as AC 133 was not applicable at that
time. The application of AC 133 in an environment marked by reductions in
interest rates since 1 April 2003, has resulted in the growth in headline
earnings and attributable earnings bordering on the transition point into
substantial. Excluding the impact of AC 133, the Group performed in accordance
with the growth trend reported for the first six months of the year.
Absa`s auditors have not reviewed or reported on this trading statement.
Shareholders are advised to exercise caution when dealing in Absa shares until
publication of the financial results for the year ended 31 March 2004, which
will take place on Monday, 31 May 2004.
Johannesburg
20 May 2004
Lead Sponsor
Merrill Lynch South Africa (Pty) Limited
Co-sponsor
Absa Corporate and Merchant Bank
Date: 20/05/2004 12:03:03 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
