Sallies Limited - Trading Update
SALLIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1903/001879/06)
JSE share code: SAL
ISIN: ZAE000022588
(`Sallies`)
Trading update
On 1 July 2005, shareholders were advised that Sallies would benefit from
renegotiated terms related to the Honeywell contract and that this would result
in the reversal of the provision for `onerous` contract of R22.7m raised at 31
December 2004. Regrettably for technical reasons, only a portion of this
provision will be reversed at 30 June 2005 with the result that the basic and
headline undiluted loss per share for the year to 30 June 2005 will not decline
by between 10 - 30%.
At this stage, the income tax adjustment for the year to 30 June 2005 has not
been finalized. However, the directors are reasonably certain that the pre-tax
loss for the year to 30 June 2005 is now anticipated to be in line with the loss
reported at the half year. This forecast loss information has not been reviewed
or reported on by Sallies` auditors.
The results for the year ended 30 June 2005 are expected to be released during
mid September 2005.
Johannesburg
5 August 2005
Sponsor
(Ernst & Young Sponsors (Pty) Ltd)
(Registration number 2000/031843/07)
Date: 05/08/2005 04:12:03 PM
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