ELH
ELH
EHL - Ellerines - Update for the four months to 7 January 2007
Ellerine Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/013402/06)
JSE Code: EHL & ISIN: ZAE000022752
("Ellerines" or "the Group")
Update for the four months to 7 January 2007
Sales update
The Group`s Cash Chains increased sales of merchandise by 14% compared to
the same period last year, while revenue for the Credit Chains grew by 7%.
Total revenue for the Group increased by 9%.
The moderate revenue growth in the Credit Chains is reflective of the
tightening credit market and the Group`s cautious credit granting criteria.
The Group`s debtors arrears at 14,4% in the Credit Chains are in line with
year end August 2006, however collection rates have reduced resulting in an
increase in the doubtful debt provision.
Retirement of Chief Executive Officer
The Board regrets to announce that Peter Squires, for health reasons, has
decided to take early retirement during the course of this year.
The Board has commenced with the process of recruiting a suitable
replacement.
Share buy-back
During the period the Group re-purchased 3 500 000 Ellerines shares on the
open market, which represents 2,9% of Ellerines` issued share capital.
The information provided in the sales update has not been reviewed or
reported on by the Group`s auditors.
Johannesburg
19 January 2007
Sponsor
Nedbank Capital
Date: 19/01/2007 14:23:22 Produced by the JSE SENS Department.
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