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WOOLWORTHS STATEMENT REGARDING PROFIT

Release Date: 16/07/1999 07:07
Code(s): WHL
Wrap Text
WOOLWORTHS HOLDINGS LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 05/01986/06)
("WOOLWORTHS")
STATEMENT REGARDING PROFIT

THE DIFFICULT ECONOMIC CONDITIONS IN THE SEGMENT OF THE RETAIL MARKET IN WHICH THE GROUP'S SOUTH AFRICAN BUSINESS, WOOLWORTHS, OPERATES, TOGETHER WITH A VERY MILD WINTER, HAS IMPACTED NEGATIVELY ON THE PROFITABILITY OF WOOLWORTHS. WE WISH TO CONFIRM TO SHAREHOLDERS THE MARKET EXPECTATION THAT HEADLINE EARNINGS PER SHARE (HEPS) FOR THE YEAR ENDED 30 JUNE 1999 WILL BE LOWER THAN THOSE FOR THE COMPARABLE PERIOD LAST YEAR. FURTHER DETAILS WILL BE ANNOUNCED WITH THE RELEASE OF THE RESULTS FOR THE YEAR ENDED 30 JUNE 1999 ON 19 AUGUST 1999 AND LATER WHEN THE ANNUAL FINANCIAL STATEMENTS ARE ISSUED.
PLANS PRESENTLY BEING IMPLEMENTED ARE EXPECTED TO RESULT IN AN IMPROVEMENT IN TRADING PERFORMANCE IN THE FORTHCOMING YEAR. CAPE TOWN 15 JULY 1999

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