The Don Group Limited - Trading statement and cautionary announcement
The Don Group Limited
(Registration number 1946/023123/06)
Incorporated in the Republic of South Africa
Share code: DON ISIN: ZAE000008462
(`Don` or `the company`)
Shareholders are advised that Don will be reporting a loss and headline loss for
the 12 months ended 30 June 2004, compared to positive earnings and headline
earnings generated in the prior comparative period, being the 12 months ended 30
June 2003. The loss and headline loss will be greater than that reported in
respect of the interim period for the six months ended 31 December 2003.
The decrease in comparison with the 12 months ended 30 June 2003 and the six
months interim period ended 31 December 2003, is substantial (`substantial`
being a decrease of equal to or greater than 30% as defined in paragraph 3.4 of
the Listings Requirements of the JSE Securities Exchange South Africa (`the
JSE`)), and is attributable, inter alia, to:
* non achievement of budgeted levels of turnover;
* high levels of costs relating to individual hotel operations and head
office functions;
* certain non-recurring expenditure; and
* ongoing product development and repositioning of the group in the tourist
market.
The loss and headline loss for the 12 months ended 30 June 2004 are in the
process of being audited and reported on by the company`s auditors, and
shareholders are accordingly advised to exercise caution when dealing in the
company`s securities on the JSE until such time as these results have been
finalised and published, which will be on or before 15 September 2004.
Paulshof
30 August 2004
Sponsor
Grant Thornton Corporate Finance (Proprietary) Limited
Date: 30/08/2004 03:01:43 PM
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