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L.A. Group Limited - Trading Statement And Cautionary Announcement
L.A. GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1936/008786/06)
Share Code: LAR ISIN: ZAE000028676
Share Code: LAN ISIN: ZAE000028684
(`L.A. Group` or `the company`)
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT
In terms of the Listings Requirements of the JSE Securities Exchange South
Africa (`JSE`), listed companies are required to publish a trading statement as
soon as they are satisfied that a reasonable degree of certainty exists that the
financial results for the period to be reported on next will differ by at least
20 % from that of the previous corresponding period. L.A. Group has further, in
terms of its circular to shareholders dated 16 August 2004 (`the circular`),
undertaken to advise shareholders regarding its financial position and
performance for the six month period to 31 August 2004 prior to the general
meeting convened in the circular, to approve, inter alia, the specific
repurchase of its shares from Sanlam Investment Management (`the specific
repurchase`) and an odd lot offer, which general meeting will take place on
Tuesday, 7 September 2004.
Shareholders are advised as follows:
1. Trading results
Compared to the results for the previous corresponding period being the
unaudited interim results for the six months ended 31 August 2004:-
1.1 The headline earnings per ordinary and `N` ordinary share of the
company are expected to increase by between 30% and 40%.
1.2 The earnings per ordinary and `N` ordinary share of the company are
expected to increase by between 30% and 40%.
2. Financial position
Compared to the audited financial statements at 29 February 2004:-
2.1 Non-current liabilities of the company are expected to decrease by 30%
to 40%.
2.2 Current liabilities are expected to increase by 20% to 30%.
2.3 Total liabilities are expected to increase by 15% to 25%.
2.4 Non-current assets are expected to increase by not more than 5%.
2.5 Current assets are expected to increase by 5 to 15%.
The financial information contained herein has not been reviewed or reported on
by the company`s auditors and is based on the accounting records of the group.
The effects of the odd lot offer and the specific repurchase have not been
factored into the above information.
The publication of the company`s interim financial information is expected
during October 2004.
1 September 2004
Cape Town
Sponsor
SASFIN CORPORATE FINANCE
A division of Sasfin Bank Limited
Date: 01/09/2004 04:44:04 PM Produced by the JSE SENS Department
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