Primeserv Group Limited - Trading Update
Primeserv Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/013448/06)
Share code: PMV ISIN: ZAE000039277
(`the company`)
TRADING UPDATE
In terms of the revised Listings Requirements of the JSE
Securities Exchange South Africa, a listed company is
required to publish a trading statement as soon as it
becomes aware that the financial results for the next
period to be reported on will show a 20% or more
difference from those of the previous corresponding
period.
Primeserv hereby advises that for the six months ending
31 December 2004, it is expecting headline earnings per
share to be a loss of between 2.8 and 3.4 cents per share
compared to a profit of 1.82c per share for the previous
comparative period ended 31 December 2003. This is
attributable to the roll on effect of trading
difficulties in the Group`s HR Solutions division as
reported in the trading update released on 20 August 2004
and detailed in the announcement pertaining to the Groups
results for the year ended 30 June 2004, published on 27
September 2004.
The abovementioned results are expected to be published
on or about 24 March 2005.
Notwithstanding the above, the Group`s primary operations
continue to trade profitably with strong cash flows and
it is anticipated that this combined with the two BEE
transactions recently concluded and remedial action taken
within the HR Solutions division, that Group trading
conditions will improve in the six month period to June
2005 and the Group will return to profitability for the
year as a whole.
The information in this trading statement has not been
reviewed or reported on by Primeserv`s auditors.
Bryanston
17 December 2004
Date: 17/12/2004 02:31:02 PM
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