African And Overseas Enterprises Limited - Trading Update
AFRICAN AND OVERSEAS ENTERPRISES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/027461/06)
(Share code: AOO ISIN: ZAE000000485)
(Share code: AON ISIN: ZAE000009718)
(Share code: AOVP ISIN: ZAE000000493)
(`AOE`)
TRADING UPDATE
The operating subsidiary of the AOE group, Rex Trueform Clothing Company
Limited, has today reported as follows:
`The Rex Trueform Board is pleased to announce that Queenspark`s turnover for
the four months to 31 October 2004 is 9,6% higher than that of the corresponding
period of the previous financial year. This higher turnover has been achieved at
improved margins, and it is expected that Queenspark`s profits for the six
months ending 31 December 2004 will be well in excess of those for the six
months ended 31 December 2003.
In the manufacturing sector, trading conditions remain extremely difficult, with
lower volumes and with margins under pressure.
At this stage, Rex Trueform`s Group earnings for the six months ending 31
December 2004 are expected to exceed those of the prior comparative period. Once
the Rex Trueform Board is reasonably certain of the magnitude of this increase
further information will be provided to Rex Trueform shareholders.
The above information has not been reviewed or reported on by the Company`s
auditors.`
Cape Town
9 November 2004
Sponsor
Nedbank Capital
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