TDH
TDH
TDH - Tradehold Limited - Trading Statement
Tradehold Limited
(Registration number 1970/009054/06)
(Incorporated in the Republic of South Africa)
JSE code: TDH & ISIN: ZAE000026902
("Tradehold")
Shareholders` attention is drawn to a statement issued by Tradehold`s
subsidiary, Instore plc, on 21 December 2006 and which appears below.
"INSTORE plc
TRADING STATEMENT
We continue to make good progress with our programme to restructure the
business, reduce inventory and substantially improve cash flow while upgrading
core systems. However, following the previously reported strong like for like
sales growth, Instore plc has seen a significant shortfall in sales volumes for
November.
Sales have been affected by a combination of deteriorating market conditions and
distribution centre supply difficulties resulting from new warehouse management
software, introduced in September as part of a crucial and urgently required
systems upgrade.
The distribution centre position has now been stabilised and December sales are
more encouraging with like for like sales for the two weeks ending December 16th
up by 1.9%; year to date like for like sales are up by 4.6%
Christmas trading is, as always, very important to the full year outcome.
Nevertheless, the effects of the November trading performance, combined with the
previously reported costs of the ongoing stock clearance and restructuring
programme, are likely to result in full year profits being materially below
current market expectations.
A further trading update will be made, as usual, in January."
Johannesburg
21 December 2006
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 21/12/2006 09:52:01 Produced by the JSE SENS Department.
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