Consol Limited - Trading update
CONSOL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/021828/06)
Share code: CSL
ISIN: ZAE000063251
Trading update
Consol is releasing the following statement for the eleven months ended 31 May
2005 (`the period`) prior to the commencement of its `closed period` on 15 June
2005. The `closed period` will end with the release of Consol`s final results
for the year ending 30 June 2005, which are expected to be issued on or about 6
September 2005.
Consumer demand within key market segments, including the beverage and food
sector, remained positive contributing to Group volume growth of 3.8%. Turnover
grew by 5.2% to R2.1 billion.
The glass division showed solid growth during the period in all categories
except carbonated soft drinks (`CSD`s`) which declined because of continued
imports from the Middle East. Glass volumes in total were 3.9% above the prior
period and excluding CSD`s the volume growth was a pleasing 7.8%. Price
increases were limited to the 2% to 3% range and, with a change in product mix,
turnover grew by 4.7%. As reported at the interim period any adverse impact of
CSD imports has been offset by local production replacing Consol`s imports for
the wine category in the prior period.
The plastics division`s volume and turnover increased by 2.7% and 8.7% during
the period, respectively. Raw material price increases were not fully recovered,
affecting to some degree the thermoforming operation and in particular the
flexible packaging business which has had the added negative impact of lost
volumes due to cheaper imports and resultant increased local competition.
SEGMENTAL TURNOVER FOR THE ELEVEN MONTHS ENDED 31 MAY 2005
Rm increase
Glass containers 1 815 4.7%
Plastic packaging 242 8.7%
Enquiries
Consol (27) 11 8740000
Mike Arnold, Group Managing Director (27) 11 8742251
Karuna Nayager, Group Financial Director (27) 11 8742272
Hylton Falgate, Group Company Secretary (27) 11 8742252
College Hill (27) 11 447 3030
Johannes van Niekerk (27) 11 447 3030
Nicola White (27) 11 447 3030
Date: 09/06/2005 05:00:05 PM
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