Alex White - Trading Update And Cautionary Announc
Alex White - Trading Update And Cautionary Announcement
Alex White Holdings Limited
(Registration number 1949/035016/06)
Share code: ALX
ISIN: ZAE000000386
(`Alex White` or `the company`)
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
In terms of the listing requirements of the JSE Securities Exchange, South
Africa, (`JSE Listing Requirements`), shareholders are advised that the earnings
of the company are expected to be significantly (`significantly`, as defined in
the JSE Listing Requirements being price sensitive but less than 10%) lower than
that of the previous corresponding period. Headline earnings of Alex White are
expected to be substantially (`substantially`` as defined in the JSE Listing
Requirements being equal to or greater than 30%) lower than that of the previous
corresponding period.
This is primarily due to the extremely weak markets and lowered volumes in
flexible packaging due to the strength of the Rand. Our customers have lost
export orders and have also lost orders to cheaper imported finished goods.
There has been a concomitant drop in margins as a result of the highly
competitive nature of the industry.
Capital profits made during the year from the sale of assets will bring earnings
per share closer to that achieved in the previous financial year.
The installation of the new press has been successfully completed and the
expected productivity gains will contribute to improved results in the 2004/2005
financial year.
As the information contained in this trading update has not been reviewed and
reported on by the auditors of Alex White, shareholders are advised to exercise
caution when dealing in Alex White shares until the aforementioned results are
published on or about the 27 September 2004.
By order of the Board
Lea Glen
10 August 2004
Sponsor
Sasfin Corporate Finance
A division of Sasfin Bank Limited
Date: 06/08/2004 03:25:04 PM
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