Synergy Holdings - Trading update and cautionary announcement
Synergy Holdings
(Incoporated In 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 completion of the audited results of the company for the year
ended 28 February 2005, shareholders are advised that Synergy`s results in
relation to headline earnings per share for the year ended 28 February 2005 will
be approximately 2.43 cps lower being a decrease of approximately 87% 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 the audit of the company`s results for
the year ended 28 February 2005, and will be published its final audited results
on or about Friday, 27 May 2005.
Cautionary announcement Shareholders are advised that Synergy has entered into
negotiations, which if successfully completed, may have a material effect on the
price of the company`s securities.
Shareholders are accordingly advised to exercise caution when dealing in the
company`s securities until a full announcement is made.
Johannesburg
20 May 2005
Sponsor
RIVER GROUP
Date: 20/05/2005 04:52:01 PM
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