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Howden Africa Holdings Limited - Trading update and cautionary announcement

Release Date: 23/01/2004 16:00
Code(s): HWN
Wrap Text

Howden Africa Holdings Limited - Trading update and cautionary announcement Howden Africa Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1996/002982/06) Share code: HWN ISIN: ZAE000010583 ("HAHL" or "the Company") Trading update and cautionary announcement Trading update Shareholders are advised that HAHL"s financial results for the year ended 31st December 2003 will be substantially higher ("substantially" being an increase of equal to or greater than 30% as defined in the JSE Securities Exchange South Africa ("JSE") Listings Requirements), than that of the prior comparative period. The improvement in earnings is mainly attributable to: Reduction in offshore activities, Disposal of Hertz Technologies Limited during May 2003 with no further associated losses, Improved margins in the continuing businesses, and Control of overhead expenses within the operating divisions. Cautionary announcement The financial results for the year ended 31st December 2003 have not been reviewed or reported on by the Company"s auditors and shareholders are accordingly advised to exercise caution when dealing in HAHL"s securities on the JSE until the preliminary announcement of such results are published on or about 1st March 2004. Johannesburg 23 January 2004 SponsorPricewaterhouseCoopers Corporate Finance (Proprietary) Limited(Registration number 1970/003711/07) Date: 23/01/2004 04:00:03 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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