SYNERGY - TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
SYNERGY HOLDINGS
(Incorporatedin the Republic of South Africa)
(Registration number 1995/006315/06)
Share code: SNG ISIN: ZAE000017760
(Synergy` or `the Company`)
TRADING UPDATE AND CAUTIONARY ANNOUNCEMENT
Following the compilation of the interim results, which have not been reviewed
by the auditors of the Company, shareholders are advised that Synergy`s results
in relation to headline earnings per share for the period ended 31 August 2004
will be approximately 1,01 cents per share lower being a decrease of
approximately 59% when compared to the prior comparative period.
The main reasons for the decrease in earnings are:
* a decrease in the number of ACCPAC Dos to ACCPAC Windows upgrades;
* Synergy benefited from an assessed tax loss in the comparative period which
was exhausted in the February 2004 year end;
* Synergy opened a branch in Cape Town and incurred substantial costs in the
process; all such costs have been expensed.
The Synergy board is presently finalising their review of the Company`s results
for the period ended 31 August 2004. Shareholders are accordingly advised to
exercise caution when dealing in the Company`s securities until the results are
published on or about 4 November 2004.
Johannesburg
8 October 2004
Sponsor
RIVER GROUP
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