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WOOLWORTHS HOLDINGS LIMITED ("WOOLWORTHS") RESTRUCTURING

Release Date: 19/06/2000 11:05
Code(s): WHL
Wrap Text
WOOLWORTHS HOLDINGS LIMITED
("WOOLWORTHS")
RESTRUCTURING

THE INTERIM REPORT OF WOOLWORTHS FOR THE PERIOD ENDED 31 DECEMBER 1999 REFERRED TO A RESTRUCTURING OF THE BUSINESS. THIS PROCESS IS CURRENTLY IN PROGRESS AND WILL RESULT IN A TOTAL ONCE OFF COST OF APPROXIMATELY R45M, WHICH WILL BE BORNE IN THE RESULTS FOR THE YEAR ENDING 30 JUNE 2000. THE OVERHEAD COST STRUCTURE OF WOOLWORTHS WILL BE LOWER IN THE FUTURE.
THE FINAL FIGURE WILL BE CONFIRMED IN THE YEAR-END RESULTS ANNOUNCEMENT TO BE PUBLISHED ON 17 AUGUST 2000.

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