AFRICAN AND OVERSEAS ENTERPRISES LD - Trading Statement

Trading Statement

AFRICAN & OVERSEAS ENTERPRISES
LIMITED (Incorporated in the Republic of South
Africa) Registration number 1947/027461/06
Share code: AOO          ISIN:    ZAE000000485
Share code: AON          ISIN:    ZAE000009718
Share code: AOVP         ISIN:    ZAE000000493
“AOE” or “the company”


TRADING STATEMENT

In terms of the Listings Requirements of the JSE Limited, 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 differ by more
than 20% from those of the previous corresponding period.

Shareholders were advised via SENS 2012 financial year end results announcements on 05 September 2012
and in the 2012 Rex Trueform Clothing Company Limited Integrated Report, regarding the prospects of the group
for the 2012 financial year. It was noted that “the company’s retail segment would remain under pressure in the
2013 financial year and certain strategic initiatives are being undertaken...which should have a positive impact in
the medium term”.

The medium term key retail strategic initiatives being referred to above include the following:
    -   Merchandise and related planning strategy is in the process of being overhauled which should provide
        significant future benefits, but which does carry certain short term costs. 

    -   Various key business processes are being re-engineered to enable the business to operate more
        effectively. 

    -   Introduction of a new brand named Cath.Nic, which was launched in stores in August 2012. As with most new
        brands, market penetration will only have a material impact on results in the medium to long term. 

    -   The implementation of the franchise store strategy which involves targeting various countries within Africa
        and expanding our footprint in the countries in which the current franchise stores operate. 

    -   A new information technology ERP (enterprise resource planning) system is in the process of being
        implemented. 


The company has experienced difficult trading conditions. Having regard to losses already incurred, earnings
and headline earnings per share for the six month period ending 31 December 2012 are anticipated to be
between 90% and 110% lower than those for the previous corresponding period.

The above information has not been reviewed or reported on by AOE’s external auditors.



14 November 2012

Sponsor

Java Capital

Date: 14/11/2012 11:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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