Rex Trueform Clothing Company Limited - Trading Statement
REX TRUEFORM CLOTHING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1937/009839/06)
(Share code: RTO ISIN: ZAE000006144)
(Share code: RTN ISIN: ZAE000009700)
(Share code: RTOP ISIN: ZAE000006151)
(`Rex Trueform` or `the Company`)
TRADING STATEMENT
In terms of the JSE Limited Listings Requirements (`the Listings Requirements`),
companies are required to publish a trading statement as soon as they are
reasonably certain that the financial results for the current reporting period
will be more than 20% different from that of the previous corresponding period.
As a consequence of the press release issued by The South African Institute of
Chartered Accountants on Friday, 29 July 2005 and Circular 7/2005 - Operating
Leases, and the accounting for a fundamental error arising from the provision of
post retirement benefits, the prior year results for the year ended 30 June 2004
have been restated to earnings and headline earnings of R3,874 million (a total
adjustment of R961 000 with R663 000 being attributable to the operating lease
adjustment and R298 000 being attributable to the fundamental error adjustment),
being 19,3 cents per share in comparison to the previously reported earnings and
headline earnings of 24,0 cents per share. The negative effect of the lease
accrual and the accounting for the fundamental error on opening retained income
at 1 July 2003 is R7,2 million (with R1.7million being attributable to the
operating lease adjustment and R5.5 million being attributable to the
fundamental error adjustment).
In accordance with the Listings Requirements, Rex Trueform advises that it
expects to announce headline earnings per share for the year ended 30 June 2005
of between 60 and 66 cents per share compared with restated headline earnings of
19,3 cents per share for the prior comparative period. As a result of the
closure of the Salt River factory, after taking into account associated
retrenchment and other costs, earnings for the year will be negative, a loss of
between (101) and (112) cents per share compared to positive restated earnings
of 19,3 cents per share for the comparative period.
Shareholders are advised that the above information has not been reviewed or
reported on by Rex Trueform`s external auditors. The company`s results for the
year ended 30 June 2005 are expected to be published on or about 8 September
2005.
Cape Town
6 September 2005
Sponsor
Nedbank Capital
Date: 06/09/2005 05:04:52 PM
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