LIBERTY GROUP LIMITED AND LIBERTY HOLDINGS LIMITED - TRADING STATEMENT AND
CAUTIONARY ANNOUNCEMENT
Liberty Group Limited
(`Liberty`)
Registration number 1957/002788/06
JSE Share Code: LGL
Issuer Code: LIBU
ISIN Code: ZAE000024543
Incorporated in the Republic of South Africa
Liberty Holdings Limited
Registration number 1968/002095/06
JSE Share Code: LBH
ISIN Code: ZAE000004032
Incorporated in the Republic of South Africa
TRADING STATEMENT AND CAUTIONARY ANOUNCEMENT
Shareholders are advised that Liberty`s interim headline earnings per share for
2004 are expected to be materially higher (between 10% and 30%) than the 130,0
cents per share recorded for the six months ended 30 June 2003.
Total new business premiums are estimated to have increased by approximately 15%
(8% on an indexed basis). Individual new business premiums have continued to
grow at a reasonable rate, however a decrease is expected for the first half of
2004 compared with the first half in 2003 in corporate new business.
Net cash flows from insurance operations have remained positive during the first
half of 2004, while the increase in management expenses per policy has been
contained within the actuarial assumption of 5,5% per annum.
The Group`s capital position remains strong and embedded value per share is
expected to be similar to the value of R57,58 at 31 December 2003.
The information contained in this announcement has not been reviewed and
reported on by the company`s auditors and consequently holders of securities
must exercise caution in their securities dealings until the publication of the
financial results for the six months ending 30 June 2004, which is expected on
or about 11 August 2004.
Johannesburg
30 June 2004
Liberty Holdings Limited is the holding company of Liberty Group Limited and has
no other investments and carries on no other business other than that related to
its investment in Liberty Group Limited. Consequently, Liberty Holdings Limited
shareholders are referred to the comments made above in respect of Liberty Group
Limited.
SPONSOR
Merrill Lynch South Africa (Proprietary) Limited
Date: 30/06/2004 05:24:30 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
